Correlation Between Neuberger Berman and MainStay CBRE

Can any of the company-specific risk be diversified away by investing in both Neuberger Berman and MainStay CBRE 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 Neuberger Berman and MainStay CBRE into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Neuberger Berman Mlp and MainStay CBRE Global, you can compare the effects of market volatilities on Neuberger Berman and MainStay CBRE 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 Neuberger Berman with a short position of MainStay CBRE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Neuberger Berman and MainStay CBRE.

Diversification Opportunities for Neuberger Berman and MainStay CBRE

0.32

Correlation Coefficient

Neuberger Berman  MainStay CBRE

Weak diversification

The 3 months correlation between Neuberger and MainStay is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Neuberger Berman Mlp and MainStay CBRE Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MainStay CBRE Global and Neuberger Berman 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 Neuberger Berman Mlp are associated (or correlated) with MainStay CBRE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MainStay CBRE Global has no effect on the direction of Neuberger Berman i.e., Neuberger Berman and MainStay CBRE go up and down completely randomly.

Pair Corralation between Neuberger Berman and MainStay CBRE

Considering the 90-day investment horizon Neuberger Berman is expected to generate 3.95 times less return on investment than MainStay CBRE. In addition to that, Neuberger Berman is 1.09 times more volatile than MainStay CBRE Global. It trades about 0.04 of its total potential returns per unit of risk. MainStay CBRE Global is currently generating about 0.16 per unit of volatility. If you would invest  1,323  in MainStay CBRE Global on May 10, 2025 and sell it today you would earn a total of  113.00  from holding MainStay CBRE Global or generate 8.54% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Neuberger Berman Mlp  vs.  MainStay CBRE Global

Neuberger Berman Mlp

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Neuberger Berman Mlp are ranked lower than 2 (%) of all funds and portfolios of funds over the last 90 days. Despite quite persistent primary indicators, Neuberger Berman is not utilizing all of its potentials. The current stock price mess, may contribute to short-term losses for the institutional investors.

MainStay CBRE Global

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in MainStay CBRE Global are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite fairly inconsistent technical and fundamental indicators, MainStay CBRE may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Neuberger Berman and MainStay CBRE

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

The idea behind Neuberger Berman Mlp and MainStay CBRE 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.

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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.