Correlation Between Eaton Vance and Cohen Steers
Can any of the company-specific risk be diversified away by investing in both Eaton Vance 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 Eaton Vance and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eaton Vance New and Cohen Steers Limited, you can compare the effects of market volatilities on Eaton Vance 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 Eaton Vance with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eaton Vance and Cohen Steers.
Diversification Opportunities for Eaton Vance and Cohen Steers
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Eaton and Cohen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance New and Cohen Steers Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cohen Steers Limited and Eaton Vance 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 Eaton Vance New 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 Limited has no effect on the direction of Eaton Vance i.e., Eaton Vance and Cohen Steers go up and down completely randomly.
Pair Corralation between Eaton Vance and Cohen Steers
If you would invest 1,611 in Cohen Steers Limited on August 24, 2024 and sell it today you would earn a total of 485.00 from holding Cohen Steers Limited or generate 30.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Eaton Vance New vs. Cohen Steers Limited
Performance |
| Timeline |
| Eaton Vance New |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Cohen Steers Limited |
Eaton Vance and Cohen Steers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eaton Vance and Cohen Steers
The main advantage of trading using opposite Eaton Vance and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eaton Vance 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.| Eaton Vance vs. Nuveen Municipalome | Eaton Vance vs. Platinum Asia Investments | Eaton Vance vs. Eaton Vance New | Eaton Vance vs. Nuveen New York |
| Cohen Steers vs. MFS Investment Grade | Cohen Steers vs. Eaton Vance National | Cohen Steers vs. Blackrock Muniyield Quality | Cohen Steers vs. Munivest Fund |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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