Correlation Between Advanced Micro and Cohen Steers
Can any of the company-specific risk be diversified away by investing in both Advanced Micro 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 Advanced Micro and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Advanced Micro Devices and Cohen Steers Closed, you can compare the effects of market volatilities on Advanced Micro 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 Advanced Micro with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advanced Micro and Cohen Steers.
Diversification Opportunities for Advanced Micro and Cohen Steers
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Advanced and Cohen is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Micro Devices and Cohen Steers Closed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cohen Steers Closed and Advanced Micro 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 Advanced Micro Devices 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 Closed has no effect on the direction of Advanced Micro i.e., Advanced Micro and Cohen Steers go up and down completely randomly.
Pair Corralation between Advanced Micro and Cohen Steers
Assuming the 90 days trading horizon Advanced Micro Devices is expected to generate 5.63 times more return on investment than Cohen Steers. However, Advanced Micro is 5.63 times more volatile than Cohen Steers Closed. It trades about 0.08 of its potential returns per unit of risk. Cohen Steers Closed is currently generating about -0.03 per unit of risk. If you would invest 4,321 in Advanced Micro Devices on August 18, 2025 and sell it today you would earn a total of 244.00 from holding Advanced Micro Devices or generate 5.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Advanced Micro Devices vs. Cohen Steers Closed
Performance |
| Timeline |
| Advanced Micro Devices |
| Cohen Steers Closed |
Advanced Micro and Cohen Steers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Advanced Micro and Cohen Steers
The main advantage of trading using opposite Advanced Micro and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advanced Micro 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.| Advanced Micro vs. Canlan Ice Sports | Advanced Micro vs. Firan Technology Group | Advanced Micro vs. Air Canada | Advanced Micro vs. Mayfair Acquisition |
| Cohen Steers vs. Cohen Steers Total | Cohen Steers vs. Liberty All Star | Cohen Steers vs. Morgan Stanley Emerging | Cohen Steers vs. Taiwan Closed |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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