Blackstone Alternative Correlations

Mutual Funds . USA . 
Fund . Blackstone Alternative Multi Strategy
BXMYX Fund  USD 10.94  0.02  0.18%   
The current 90-days correlation between Blackstone Alternative and Putnam Global Health is 0.45 (i.e., Very weak diversification). The correlation of Blackstone Alternative is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Blackstone Alternative Correlation With Market

Weak diversification

The correlation between Blackstone Alternative Multi S and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Alternative Multi S and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Blackstone Alternative Multi Strategy. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Blackstone Mutual Fund

  1.0BXMIX Blackstone AlternativePairCorr
  1.0BXMDX Blackstone AlternativePairCorr
  0.84BIMBX Blackrock AlternativePairCorr
  0.79BAMBX Blackrock AlternativePairCorr
  0.75BMBCX Blackrock AlternativePairCorr
  0.85BKMBX Blackrock SystematicPairCorr
  0.69QSPRX Aqr Style PremiaPairCorr
  0.92GARTX Goldman Sachs AbsolutePairCorr
  0.94GCRTX Goldman Sachs AbsolutePairCorr
  0.79CPAYX Columbia Pacific/asiaPairCorr
  0.7CASCX Columbia Pacific/asiaPairCorr
  0.71MIDSX Midas Fund MidasPairCorr
  0.93CISGX Touchstone Sands CapitalPairCorr
  0.92MGHRX Morgan Stanley InstiPairCorr
  0.92MGRPX Growth Portfolio ClassPairCorr
  0.92PAXGX Pax Global OpportunitiesPairCorr
  0.95PGHCX Virtus High YieldPairCorr
  0.93SCRZX Small Cap CorePairCorr
  0.88RPHIX Riverpark Short TermPairCorr
  0.95LDMYX Lord Abbett EmergingPairCorr
  0.96ARCVX One Choice 2030PairCorr
  0.92FIQFX Fidelity China RegionPairCorr
  0.93QUAIX Ab Small CapPairCorr
  0.93VYRIX Vy T RowePairCorr
  0.96IIFAX Vy Franklin IncomePairCorr
  0.93HLDAX Hartford EmergingPairCorr
  0.94SSIPX Ssga International StockPairCorr
  0.84CYPSX Consumer ServicesPairCorr
  0.97URHIX High Income FundPairCorr
  0.86GCIGX Gamco InternationalPairCorr
  0.88FGBRX Templeton Global BondPairCorr
  0.9PYABX Payden Absolute ReturnPairCorr
  0.9DFSTX Us Small CapPairCorr
  0.92DRGVX Dreyfus Strategic ValuePairCorr
  0.93PCNTX Putnam ConvertiblePairCorr
  0.94MMFOX Massmutual SelectPairCorr
  0.93FCNTX Fidelity ContrafundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Blackstone Mutual Fund performing well and Blackstone Alternative Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Blackstone Alternative's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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