Correlation Between Goehring Rozencwajg and Cohen Steers

Can any of the company-specific risk be diversified away by investing in both Goehring Rozencwajg and Cohen Steers 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 Goehring Rozencwajg and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Goehring Rozencwajg Resources and Cohen Steers Global, you can compare the effects of market volatilities on Goehring Rozencwajg and Cohen Steers 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 Goehring Rozencwajg with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Goehring Rozencwajg and Cohen Steers.

Diversification Opportunities for Goehring Rozencwajg and Cohen Steers

0.67

Correlation Coefficient

Goehring Rozencwajg  Cohen Steers

Poor diversification

The 3 months correlation between Goehring and Cohen is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Goehring Rozencwajg Resources and Cohen Steers Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cohen Steers Global and Goehring Rozencwajg 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 Goehring Rozencwajg Resources are associated (or correlated) with Cohen Steers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cohen Steers Global has no effect on the direction of Goehring Rozencwajg i.e., Goehring Rozencwajg and Cohen Steers go up and down completely randomly.

Pair Corralation between Goehring Rozencwajg and Cohen Steers

Assuming the 90 days horizon Goehring Rozencwajg Resources is expected to generate 2.32 times more return on investment than Cohen Steers. However, Goehring Rozencwajg is 2.32 times more volatile than Cohen Steers Global. It trades about 0.32 of its potential returns per unit of risk. Cohen Steers Global is currently generating about 0.2 per unit of risk. If you would invest  1,532  in Goehring Rozencwajg Resources on July 10, 2025 and sell it today you would earn a total of  403.00  from holding Goehring Rozencwajg Resources or generate 26.31% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	98.44%
Values	Daily Returns

Goehring Rozencwajg Resources  vs.  Cohen Steers Global

Goehring Rozencwajg

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Goehring Rozencwajg Resources are ranked lower than 25 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Goehring Rozencwajg showed solid returns over the last few months and may actually be approaching a breakup point.

Cohen Steers Global

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Cohen Steers Global are ranked lower than 15 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak forward indicators, Cohen Steers may actually be approaching a critical reversion point that can send shares even higher in November 2025.

Pair Trading with Goehring Rozencwajg and Cohen Steers

The main advantage of trading using opposite Goehring Rozencwajg and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Goehring Rozencwajg position performs unexpectedly, Cohen Steers 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 Cohen Steers will offset losses from the drop in Cohen Steers' long position.

The idea behind Goehring Rozencwajg Resources and Cohen Steers Global pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.