Blackstone Alternative Correlations

BXMYX Fund

USD 11.25 0.01 0.09%

The current 90-days correlation between Blackstone Alternative and Blackrock Alternative Capital is 0.32 (i.e., 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

Very weak diversification

The correlation between Blackstone Alternative Multi S and DJI is 0.57 (i.e., Very 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

1.0	BXMIX	Blackstone Alternative	Pair Corr
1.0	BXMDX	Blackstone Alternative	Pair Corr
0.73	GARTX	Goldman Sachs Absolute	Pair Corr
0.72	GCRTX	Goldman Sachs Absolute	Pair Corr
0.7	SMPIX	Semiconductor Ultrasector	Pair Corr
0.67	SMPSX	Semiconductor Ultrasector	Pair Corr
0.92	RMQAX	Monthly Rebalance	Pair Corr
0.93	RMQHX	Monthly Rebalance	Pair Corr
0.92	RMQCX	Monthly Rebalance	Pair Corr
0.76	FSELX	Fidelity Select Semi	Pair Corr
0.76	RSNYX	Victory Global Natural	Pair Corr
0.94	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.72	FIKGX	Fidelity Advisor Sem	Pair Corr
0.7	FELIX	Fidelity Advisor Sem	Pair Corr
0.81	RGGEX	American Funds Global	Pair Corr
0.79	ACP	Aberdeen Income Credit	Pair Corr
0.96	ELFNX	Elfun Trusts Elfun	Pair Corr
0.79	AMECX	Income Fund	Pair Corr
0.91	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.84	WMT	Walmart Aggressive Push	Pair Corr
0.79	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.95	CSCO	Cisco Systems	Pair Corr
0.84	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.83	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.74	HD	Home Depot	Pair Corr

Moving against Blackstone Mutual Fund

0.8	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.77	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.75	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	BIMBX	QSPRX	GCRTX	AQUI	MSTSX	LBHIX	ABHYX	VIASP	RRTLX	OSHDF
BIMBX		-0.09	0.48	0.0	0.41	0.34	0.68	-0.23	0.54	-0.04	BIMBX
QSPRX	-0.09		0.22	0.0	-0.03	0.33	-0.05	0.75	0.24	0.56	QSPRX
GCRTX	0.48	0.22		0.0	0.91	0.81	0.47	0.33	0.91	0.44	GCRTX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.41	-0.03	0.91	0.0		0.67	0.34	0.08	0.78	0.22	MSTSX
LBHIX	0.34	0.33	0.81	0.0	0.67		0.59	0.48	0.83	0.54	LBHIX
ABHYX	0.68	-0.05	0.47	0.0	0.34	0.59		0.11	0.54	0.35	ABHYX
VIASP	-0.23	0.75	0.33	0.0	0.08	0.48	0.11		0.34	0.87	VIASP
RRTLX	0.54	0.24	0.91	0.0	0.78	0.83	0.54	0.34		0.44	RRTLX
OSHDF	-0.04	0.56	0.44	0.0	0.22	0.54	0.35	0.87	0.44		OSHDF
	BIMBX	QSPRX	GCRTX	AQUI	MSTSX	LBHIX	ABHYX	VIASP	RRTLX	OSHDF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MSTSX	+ 0.91	GCRTX
RRTLX	+ 0.91	GCRTX
OSHDF	+ 0.87	VIASP
RRTLX	+ 0.83	LBHIX
LBHIX	+ 0.81	GCRTX
RRTLX	+ 0.78	MSTSX

High negative correlations

VIASP	- 0.23	BIMBX
QSPRX	- 0.09	BIMBX
ABHYX	- 0.05	QSPRX
OSHDF	- 0.04	BIMBX
MSTSX	- 0.03	QSPRX
OSHDF	- 0.0	AQUI

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BIMBX	0.16	(0.01)	(0.44)	(0.03)	0.18	(0.20)	0.38	(0.37)	0.85
QSPRX	0.49	(0.01)	(0.15)	0.01	0.61	(0.57)	1.11	(1.09)	2.74
GCRTX	0.28	0.00	(0.20)	0.13	0.19	(0.33)	0.59	(0.47)	1.54
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.45	(0.01)	(0.11)	0.10	0.39	(0.59)	1.21	(0.84)	2.80
LBHIX	0.10	0.01	(0.41)	0.24	0.00	(0.25)	0.24	(0.24)	0.71
ABHYX	0.17	0.00	(0.23)	0.11	0.26	(0.23)	0.34	(0.33)	1.91
VIASP	0.75	0.10	(0.02)	(1.58)	1.11	(0.81)	2.28	(1.20)	7.18
RRTLX	0.22	0.03	(0.25)	0.71	0.12	(0.26)	0.48	(0.47)	1.36
OSHDF	39.65	23.81	0.00	(0.62)	0.00	0.00	0.00	0.00	1,329

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