Cohen Steers Correlations

LDP Fund

USD 20.76 0.15 0.73%

The current 90-days correlation between Cohen Steers Limited and Tekla Healthcare Investors is 0.52 (i.e., Very weak diversification). The correlation of Cohen Steers 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.

Cohen Steers Correlation With Market

Weak diversification

The correlation between Cohen Steers Limited and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cohen Steers Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Cohen Steers Limited. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

To learn how to invest in Cohen Fund, please use our How to Invest in Cohen Steers guide.

Moving together with Cohen Fund

0.79	BRUFX	Bruce Fund Bruce	Pair Corr
0.63	SPGSX	State Street Premier	Pair Corr
0.74	LIPIX	Blackrock Lifepath Idx	Pair Corr
0.68	VVIMX	Voya Vacs Index	Pair Corr
0.72	JRODX	J Hancock Ii	Pair Corr
0.73	DURPX	Us High Relative	Pair Corr
0.68	ARTNX	Artisan Select Equity	Pair Corr
0.81	JQLBX	Multimanager Lifestyle	Pair Corr
0.72	FSBCX	Federated Global All	Pair Corr
0.61	DFEOX	Us E Equity	Pair Corr
0.69	EVT	Eaton Vance Tax	Pair Corr
0.73	GSWPX	Goldman Sachs Smallmid	Pair Corr

Moving against Cohen Fund

0.72	DXKSX	Direxion Monthly 7	Pair Corr
0.6	JSORX	Jpmorgan Strategic Income	Pair Corr
0.58	XGEIX	Guggenheim Energy Income	Pair Corr
0.48	RYMEX	Commodities Strategy	Pair Corr
0.48	RYMJX	Commodities Strategy	Pair Corr
0.4	RYMBX	Commodities Strategy	Pair Corr
0.35	LFRIX	Floating Rate	Pair Corr
0.4	SSAGX	Virtus Seix Government	Pair Corr

Related Correlations Analysis

	HQH	THQ	ETO	THW	SDHY	MHD	JHAA	DTF	MQY	FTF
HQH		0.92	0.47	0.93	0.65	0.56	-0.46	0.35	0.61	-0.02	HQH
THQ	0.92		0.39	0.96	0.57	0.42	-0.41	0.2	0.44	-0.03	THQ
ETO	0.47	0.39		0.29	0.71	0.61	0.26	0.53	0.33	0.64	ETO
THW	0.93	0.96	0.29		0.53	0.47	-0.56	0.23	0.54	-0.15	THW
SDHY	0.65	0.57	0.71	0.53		0.52	0.04	0.58	0.3	0.4	SDHY
MHD	0.56	0.42	0.61	0.47	0.52		-0.3	0.53	0.87	0.29	MHD
JHAA	-0.46	-0.41	0.26	-0.56	0.04	-0.3		0.13	-0.63	0.72	JHAA
DTF	0.35	0.2	0.53	0.23	0.58	0.53	0.13		0.31	0.53	DTF
MQY	0.61	0.44	0.33	0.54	0.3	0.87	-0.63	0.31		-0.14	MQY
FTF	-0.02	-0.03	0.64	-0.15	0.4	0.29	0.72	0.53	-0.14		FTF
	HQH	THQ	ETO	THW	SDHY	MHD	JHAA	DTF	MQY	FTF

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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

THW	+ 0.96	THQ
THW	+ 0.93	HQH
THQ	+ 0.92	HQH
MQY	+ 0.87	MHD
FTF	+ 0.72	JHAA
SDHY	+ 0.71	ETO

High negative correlations

MQY	- 0.63	JHAA
JHAA	- 0.56	THW
JHAA	- 0.46	HQH
JHAA	- 0.41	THQ
JHAA	- 0.3	MHD
FTF	- 0.15	THW

Risk-Adjusted Indicators

There is a big difference between Cohen Fund performing well and Cohen Steers 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 Cohen Steers' 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
HQH	0.87	(0.01)	(0.04)	0.04	1.41	(0.80)	1.63	(1.66)	6.31
THQ	0.97	(0.08)	0.00	(0.06)	0.00	0.00	1.72	(2.19)	5.19
ETO	0.59	0.01	(0.05)	0.13	0.86	(0.55)	1.22	(1.34)	4.03
THW	0.78	(0.08)	0.00	(0.16)	0.00	0.00	1.30	(1.90)	4.00
SDHY	0.35	0.02	(0.09)	0.21	0.44	(0.35)	0.68	(0.74)	2.68
MHD	0.61	(0.04)	0.00	(0.18)	0.00	0.00	1.15	(1.15)	2.75
JHAA	0.15	0.02	(0.25)	(1.41)	0.00	(0.20)	0.33	(0.22)	0.96
DTF	0.34	0.02	(0.12)	(0.21)	0.42	(0.44)	0.83	(0.71)	2.78
MQY	0.58	(0.11)	0.00	(0.33)	0.00	0.00	0.99	(1.13)	3.70
FTF	0.47	0.06	(0.03)	(0.63)	0.59	(0.54)	0.95	(0.78)	3.41

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