Correlation Between Barings Us and Cohen Steers
Can any of the company-specific risk be diversified away by investing in both Barings Us 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 Barings Us and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Barings High Yield and Cohen Steers Dividend, you can compare the effects of market volatilities on Barings Us 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 Barings Us with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barings Us and Cohen Steers.
Diversification Opportunities for Barings Us and Cohen Steers
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Barings and Cohen is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Barings High Yield and Cohen Steers Dividend in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cohen Steers Dividend and Barings Us 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 Barings High Yield 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 Dividend has no effect on the direction of Barings Us i.e., Barings Us and Cohen Steers go up and down completely randomly.
Pair Corralation between Barings Us and Cohen Steers
If you would invest 793.00 in Barings High Yield on November 2, 2024 and sell it today you would earn a total of 23.00 from holding Barings High Yield or generate 2.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.97% |
| Values | Daily Returns |
Barings High Yield vs. Cohen Steers Dividend
Performance |
| Timeline |
| Barings High Yield |
| Cohen Steers Dividend |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Barings Us and Cohen Steers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Barings Us and Cohen Steers
The main advantage of trading using opposite Barings Us and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barings Us 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.| Barings Us vs. Goldman Sachs Strategic | Barings Us vs. The Gold Bullion | Barings Us vs. Sprott Gold Equity | Barings Us vs. Franklin Gold Precious |
| Cohen Steers vs. Hartford Moderate Allocation | Cohen Steers vs. Dodge Cox Stock | Cohen Steers vs. Alternative Asset Allocation | Cohen Steers vs. T Rowe Price |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |