Correlation Between Cohen Steers and Total Return
Can any of the company-specific risk be diversified away by investing in both Cohen Steers and Total Return 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 Steers and Total Return into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cohen Steers Infrastructure and Total Return Fund, you can compare the effects of market volatilities on Cohen Steers and Total Return 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 Steers with a short position of Total Return. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cohen Steers and Total Return.
Diversification Opportunities for Cohen Steers and Total Return
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cohen and Total is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cohen Steers Infrastructure and Total Return Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Total Return and Cohen Steers 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 Steers Infrastructure are associated (or correlated) with Total Return. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Total Return has no effect on the direction of Cohen Steers i.e., Cohen Steers and Total Return go up and down completely randomly.
Pair Corralation between Cohen Steers and Total Return
If you would invest (100.00) in Cohen Steers Infrastructure on January 20, 2024 and sell it today you would earn a total of 100.00 from holding Cohen Steers Infrastructure or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Cohen Steers Infrastructure vs. Total Return Fund
Performance |
| Timeline |
| Cohen Steers Infrast |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Total Return |
Cohen Steers and Total Return Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cohen Steers and Total Return
The main advantage of trading using opposite Cohen Steers and Total Return positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cohen Steers position performs unexpectedly, Total Return 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 Total Return will offset losses from the drop in Total Return's long position.| Cohen Steers vs. Hunter Small Cap | Cohen Steers vs. Eagle Small Cap | Cohen Steers vs. Lebenthal Lisanti Small | Cohen Steers vs. Ab Small Cap |
| Total Return vs. John Hancock Financial | Total Return vs. Goldman Sachs Financial | Total Return vs. Angel Oak Financial | Total Return vs. Financials Ultrasector Profund |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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