Correlation Between Advent Claymore and Cohen Steers
Can any of the company-specific risk be diversified away by investing in both Advent Claymore 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 Advent Claymore and Cohen Steers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Advent Claymore Convertible and Cohen Steers Low, you can compare the effects of market volatilities on Advent Claymore 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 Advent Claymore with a short position of Cohen Steers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advent Claymore and Cohen Steers.
Diversification Opportunities for Advent Claymore and Cohen Steers
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Advent and Cohen is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Advent Claymore Convertible and Cohen Steers Low in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cohen Steers Low and Advent Claymore 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 Advent Claymore Convertible 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 Low has no effect on the direction of Advent Claymore i.e., Advent Claymore and Cohen Steers go up and down completely randomly.
Pair Corralation between Advent Claymore and Cohen Steers
Assuming the 90 days horizon Advent Claymore is expected to generate 1.08 times less return on investment than Cohen Steers. In addition to that, Advent Claymore is 6.7 times more volatile than Cohen Steers Low. It trades about 0.03 of its total potential returns per unit of risk. Cohen Steers Low is currently generating about 0.18 per unit of volatility. If you would invest 911.00 in Cohen Steers Low on September 9, 2025 and sell it today you would earn a total of 53.00 from holding Cohen Steers Low or generate 5.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Advent Claymore Convertible vs. Cohen Steers Low
Performance |
| Timeline |
| Advent Claymore Conv |
| Cohen Steers Low |
Advent Claymore and Cohen Steers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Advent Claymore and Cohen Steers
The main advantage of trading using opposite Advent Claymore and Cohen Steers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advent Claymore 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.| Advent Claymore vs. Dws Emerging Markets | Advent Claymore vs. Sa Emerging Markets | Advent Claymore vs. Rbc Emerging Markets | Advent Claymore vs. Aqr Tm Emerging |
| Cohen Steers vs. Virtus Convertible | Cohen Steers vs. Gabelli Convertible And | Cohen Steers vs. Rationalpier 88 Convertible | Cohen Steers vs. Advent Claymore Convertible |
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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