Correlation Between Chengdu PUTIAN and Cohen Steers
Can any of the company-specific risk be diversified away by investing in both Chengdu PUTIAN 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 Chengdu PUTIAN and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Chengdu PUTIAN Telecommunications and Cohen Steers, you can compare the effects of market volatilities on Chengdu PUTIAN 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 Chengdu PUTIAN with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chengdu PUTIAN and Cohen Steers.
Diversification Opportunities for Chengdu PUTIAN and Cohen Steers
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Chengdu and Cohen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Chengdu PUTIAN Telecommunicati and Cohen Steers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cohen Steers and Chengdu PUTIAN 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 Chengdu PUTIAN Telecommunications 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 has no effect on the direction of Chengdu PUTIAN i.e., Chengdu PUTIAN and Cohen Steers go up and down completely randomly.
Pair Corralation between Chengdu PUTIAN and Cohen Steers
If you would invest 5.95 in Chengdu PUTIAN Telecommunications on November 2, 2024 and sell it today you would earn a total of 1.85 from holding Chengdu PUTIAN Telecommunications or generate 31.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Chengdu PUTIAN Telecommunicati vs. Cohen Steers
Performance |
| Timeline |
| Chengdu PUTIAN Telec |
| Cohen Steers |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Chengdu PUTIAN and Cohen Steers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chengdu PUTIAN and Cohen Steers
The main advantage of trading using opposite Chengdu PUTIAN and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chengdu PUTIAN 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.| Chengdu PUTIAN vs. AOYAMA TRADING | Chengdu PUTIAN vs. Virtus Investment Partners | Chengdu PUTIAN vs. ZURICH INSURANCE GROUP | Chengdu PUTIAN vs. Japan Post Insurance |
| Cohen Steers vs. CODERE ONLINE LUX | Cohen Steers vs. PACIFIC ONLINE | Cohen Steers vs. ZhongAn Online P | Cohen Steers vs. SALESFORCE INC CDR |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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