Correlation Between Cohen and AssetMark Financial
Can any of the company-specific risk be diversified away by investing in both Cohen and AssetMark Financial at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Cohen and AssetMark Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cohen and Steers and AssetMark Financial Holdings, you can compare the effects of market volatilities on Cohen and AssetMark Financial and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Cohen with a short position of AssetMark Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cohen and AssetMark Financial.
Diversification Opportunities for Cohen and AssetMark Financial
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cohen and AssetMark is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Cohen and Steers and AssetMark Financial Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AssetMark Financial and Cohen is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Cohen and Steers are associated (or correlated) with AssetMark Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AssetMark Financial has no effect on the direction of Cohen i.e., Cohen and AssetMark Financial go up and down completely randomly.
Pair Corralation between Cohen and AssetMark Financial
Considering the 90-day investment horizon Cohen and Steers is expected to under-perform the AssetMark Financial. But the etf apears to be less risky and, when comparing its historical volatility, Cohen and Steers is 2.73 times less risky than AssetMark Financial. The etf trades about -0.27 of its potential returns per unit of risk. The AssetMark Financial Holdings is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest 3,620 in AssetMark Financial Holdings on January 21, 2024 and sell it today you would lose (146.00) from holding AssetMark Financial Holdings or give up 4.03% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Cohen and Steers vs. AssetMark Financial Holdings
Performance |
| Timeline |
| Cohen and Steers |
| AssetMark Financial |
Cohen and AssetMark Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cohen and AssetMark Financial
The main advantage of trading using opposite Cohen and AssetMark Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cohen position performs unexpectedly, AssetMark Financial can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in AssetMark Financial will offset losses from the drop in AssetMark Financial's long position.| Cohen vs. Tekla World Healthcare | Cohen vs. Tekla Healthcare Investors | Cohen vs. Tekla Life Sciences | Cohen vs. Cohen And Steers |
| AssetMark Financial vs. Abrdn Emerging Markets | AssetMark Financial vs. DWS Municipal Income | AssetMark Financial vs. Blackrock Muni Intermediate | AssetMark Financial vs. Blackrock Muniyield |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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