Correlation Between Walker Dunlop and Cohen Steers
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop 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 Walker Dunlop and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and Cohen Steers Preferred, you can compare the effects of market volatilities on Walker Dunlop 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 Walker Dunlop with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Cohen Steers.
Diversification Opportunities for Walker Dunlop and Cohen Steers
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Walker and Cohen is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Cohen Steers Preferred in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cohen Steers Preferred and Walker Dunlop 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 Walker Dunlop 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 Preferred has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Cohen Steers go up and down completely randomly.
Pair Corralation between Walker Dunlop and Cohen Steers
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 7.38 times more return on investment than Cohen Steers. However, Walker Dunlop is 7.38 times more volatile than Cohen Steers Preferred. It trades about 0.02 of its potential returns per unit of risk. Cohen Steers Preferred is currently generating about 0.15 per unit of risk. If you would invest 7,355 in Walker Dunlop on December 4, 2024 and sell it today you would earn a total of 901.00 from holding Walker Dunlop or generate 12.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Cohen Steers Preferred
Performance |
| Timeline |
| Walker Dunlop |
| Cohen Steers Preferred |
Walker Dunlop and Cohen Steers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Cohen Steers
The main advantage of trading using opposite Walker Dunlop and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop 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.| Walker Dunlop vs. Mr Cooper Group | ||
| Walker Dunlop vs. Velocity Financial Llc | ||
| Walker Dunlop vs. Security National Financial | ||
| Walker Dunlop vs. Encore Capital Group |
| Cohen Steers vs. The Hartford International | ||
| Cohen Steers vs. Multimanager Lifestyle Growth | ||
| Cohen Steers vs. T Rowe Price | ||
| Cohen Steers vs. Morgan Stanley Institutional |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |