Correlation Between Cohen Steers and Blackstone Gso
Can any of the company-specific risk be diversified away by investing in both Cohen Steers and Blackstone Gso 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 Blackstone Gso into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cohen Steers Real and Blackstone Gso Strategic, you can compare the effects of market volatilities on Cohen Steers and Blackstone Gso 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 Blackstone Gso. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cohen Steers and Blackstone Gso.
Diversification Opportunities for Cohen Steers and Blackstone Gso
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Cohen and Blackstone is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Cohen Steers Real and Blackstone Gso Strategic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackstone Gso Strategic 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 Real are associated (or correlated) with Blackstone Gso. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackstone Gso Strategic has no effect on the direction of Cohen Steers i.e., Cohen Steers and Blackstone Gso go up and down completely randomly.
Pair Corralation between Cohen Steers and Blackstone Gso
Given the investment horizon of 90 days Cohen Steers Real is expected to under-perform the Blackstone Gso. In addition to that, Cohen Steers is 2.48 times more volatile than Blackstone Gso Strategic. It trades about -0.07 of its total potential returns per unit of risk. Blackstone Gso Strategic is currently generating about 0.09 per unit of volatility. If you would invest 1,218 in Blackstone Gso Strategic on August 28, 2024 and sell it today you would earn a total of 12.00 from holding Blackstone Gso Strategic or generate 0.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cohen Steers Real vs. Blackstone Gso Strategic
Performance |
| Timeline |
| Cohen Steers Real |
| Blackstone Gso Strategic |
Cohen Steers and Blackstone Gso Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cohen Steers and Blackstone Gso
The main advantage of trading using opposite Cohen Steers and Blackstone Gso positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cohen Steers position performs unexpectedly, Blackstone Gso 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 Blackstone Gso will offset losses from the drop in Blackstone Gso's long position.| Cohen Steers vs. Guggenheim Active Allocation | Cohen Steers vs. RiverNorth Flexible Municipalome | Cohen Steers vs. Western Asset Diversified | Cohen Steers vs. Cohen Steers Tax Advantaged |
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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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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