Correlation Between Cohen Steers and Ab Bond
Can any of the company-specific risk be diversified away by investing in both Cohen Steers and Ab Bond 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 Cohen Steers and Ab Bond into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cohen Steers Dividend and Ab Bond Inflation, you can compare the effects of market volatilities on Cohen Steers and Ab Bond 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 Cohen Steers with a short position of Ab Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cohen Steers and Ab Bond.
Diversification Opportunities for Cohen Steers and Ab Bond
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cohen and ABNTX is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Cohen Steers Dividend and Ab Bond Inflation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab Bond Inflation and Cohen Steers 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 Cohen Steers Dividend are associated (or correlated) with Ab Bond. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab Bond Inflation has no effect on the direction of Cohen Steers i.e., Cohen Steers and Ab Bond go up and down completely randomly.
Pair Corralation between Cohen Steers and Ab Bond
If you would invest 993.00 in Ab Bond Inflation on September 3, 2024 and sell it today you would earn a total of 25.00 from holding Ab Bond Inflation or generate 2.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 0.8% |
| Values | Daily Returns |
Cohen Steers Dividend vs. Ab Bond Inflation
Performance |
| Timeline |
| Cohen Steers Dividend |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Ab Bond Inflation |
Cohen Steers and Ab Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cohen Steers and Ab Bond
The main advantage of trading using opposite Cohen Steers and Ab Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cohen Steers position performs unexpectedly, Ab Bond 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 Ab Bond will offset losses from the drop in Ab Bond's long position.| Cohen Steers vs. Ab Bond Inflation | Cohen Steers vs. Blackrock Inflation Protected | Cohen Steers vs. Asg Managed Futures | Cohen Steers vs. Lord Abbett Inflation |
| Ab Bond vs. Blackrock High Yield | Ab Bond vs. Pgim High Yield | Ab Bond vs. Goldman Sachs High | Ab Bond vs. Gmo High Yield |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |