Correlation Between Franklin and Cohen Steers
Can any of the company-specific risk be diversified away by investing in both Franklin 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 Franklin and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Franklin Government Money and Cohen Steers Preferred, you can compare the effects of market volatilities on Franklin 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 Franklin with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin and Cohen Steers.
Diversification Opportunities for Franklin and Cohen Steers
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Franklin and Cohen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Government Money 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 Franklin 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 Franklin Government Money 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 Franklin i.e., Franklin and Cohen Steers go up and down completely randomly.
Pair Corralation between Franklin and Cohen Steers
If you would invest 1,238 in Cohen Steers Preferred on August 28, 2025 and sell it today you would earn a total of 23.00 from holding Cohen Steers Preferred or generate 1.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Franklin Government Money vs. Cohen Steers Preferred
Performance |
| Timeline |
| Franklin Government Money |
| Cohen Steers Preferred |
Franklin and Cohen Steers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin and Cohen Steers
The main advantage of trading using opposite Franklin and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin 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.| Franklin vs. Principal Lifetime Hybrid | Franklin vs. Artisan Small Cap | Franklin vs. Franklin Small Cap | Franklin vs. Victory Integrity Smallmid Cap |
| Cohen Steers vs. Arrow Managed Futures | Cohen Steers vs. Federated Municipal High | Cohen Steers vs. Auer Growth Fund | Cohen Steers vs. Barings Active Short |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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