Correlation Between Cohen Steers and Apollo Senior
Can any of the company-specific risk be diversified away by investing in both Cohen Steers and Apollo Senior 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 Apollo Senior into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cohen Steers Limited and Apollo Senior Floating, you can compare the effects of market volatilities on Cohen Steers and Apollo Senior 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 Apollo Senior. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cohen Steers and Apollo Senior.
Diversification Opportunities for Cohen Steers and Apollo Senior
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cohen and Apollo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cohen Steers Limited and Apollo Senior Floating in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apollo Senior Floating 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 Limited are associated (or correlated) with Apollo Senior. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apollo Senior Floating has no effect on the direction of Cohen Steers i.e., Cohen Steers and Apollo Senior go up and down completely randomly.
Pair Corralation between Cohen Steers and Apollo Senior
If you would invest 2,089 in Cohen Steers Limited on December 3, 2024 and sell it today you would earn a total of 9.00 from holding Cohen Steers Limited or generate 0.43% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Cohen Steers Limited vs. Apollo Senior Floating
Performance |
Timeline |
Cohen Steers Limited |
Apollo Senior Floating |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Cohen Steers and Apollo Senior Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Cohen Steers and Apollo Senior
The main advantage of trading using opposite Cohen Steers and Apollo Senior positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cohen Steers position performs unexpectedly, Apollo Senior 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 Apollo Senior will offset losses from the drop in Apollo Senior's long position.Cohen Steers vs. Tekla Healthcare Investors | Cohen Steers vs. Tekla Healthcare Opportunities | Cohen Steers vs. Eaton Vance Tax | Cohen Steers vs. Tekla World Healthcare |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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