Correlation Between ProShares and Cohen Steers
Can any of the company-specific risk be diversified away by investing in both ProShares 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 ProShares and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ProShares SP 500 and Cohen Steers Real, you can compare the effects of market volatilities on ProShares 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 ProShares with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of ProShares and Cohen Steers.
Diversification Opportunities for ProShares and Cohen Steers
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ProShares and Cohen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ProShares SP 500 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 ProShares 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 ProShares SP 500 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 ProShares i.e., ProShares and Cohen Steers go up and down completely randomly.
Pair Corralation between ProShares and Cohen Steers
If you would invest 6,939 in ProShares SP 500 on August 27, 2025 and sell it today you would earn a total of 413.00 from holding ProShares SP 500 or generate 5.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
ProShares SP 500 vs. Cohen Steers Real
Performance |
| Timeline |
| ProShares SP 500 |
| Cohen Steers Real |
Risk-Adjusted Performance
Weakest
Weak | Strong |
ProShares and Cohen Steers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ProShares and Cohen Steers
The main advantage of trading using opposite ProShares and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ProShares 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.| ProShares vs. FT Vest Equity | ProShares vs. Northern Lights | ProShares vs. Diamond Hill Funds | ProShares vs. Dimensional International High |
| Cohen Steers vs. Vert Global Sustainable | Cohen Steers vs. First Trust Exchange Traded | Cohen Steers vs. VanEck Mortgage REIT | Cohen Steers vs. Vanguard Global ex US |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| 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 | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |