Correlation Between Agree Realty and Cohen Steers
Can any of the company-specific risk be diversified away by investing in both Agree Realty 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 Agree Realty and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Agree Realty and Cohen Steers Real, you can compare the effects of market volatilities on Agree Realty 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 Agree Realty with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agree Realty and Cohen Steers.
Diversification Opportunities for Agree Realty and Cohen Steers
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between Agree and Cohen is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Agree Realty and Cohen Steers Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cohen Steers Real and Agree Realty 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 Agree Realty 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 Real has no effect on the direction of Agree Realty i.e., Agree Realty and Cohen Steers go up and down completely randomly.
Pair Corralation between Agree Realty and Cohen Steers
Assuming the 90 days trading horizon Agree Realty is expected to generate 0.82 times more return on investment than Cohen Steers. However, Agree Realty is 1.21 times less risky than Cohen Steers. It trades about 0.15 of its potential returns per unit of risk. Cohen Steers Real is currently generating about 0.0 per unit of risk. If you would invest 1,695 in Agree Realty on June 6, 2025 and sell it today you would earn a total of 108.00 from holding Agree Realty or generate 6.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agree Realty vs. Cohen Steers Real
Performance |
| Timeline |
| Agree Realty |
| Cohen Steers Real |
Agree Realty and Cohen Steers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agree Realty and Cohen Steers
The main advantage of trading using opposite Agree Realty and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agree Realty 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.| Agree Realty vs. Federal Realty Investment | Agree Realty vs. Vornado Realty Trust | Agree Realty vs. Rexford Industrial Realty | Agree Realty vs. Digital Realty Trust |
| Cohen Steers vs. Prudential Real Estate | Cohen Steers vs. Tiaa Cref Real Estate | Cohen Steers vs. Global Real Estate | Cohen Steers vs. Fidelity Real Estate |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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