Are $H_0$ and $\sigma_8$ tensions generic to present cosmological data?
  Yes, for a wide range of cosmological models ($\Lambda$CDM, non-interacting
$w_z$CDM or models with possible interactions between dark energy and dark
matter, in either phantom or non-phantom regimes). In the recent past there
have been many attempts to solve the tension between direct measurements of
$H_0$ and $\sigma_8 \sqrt{\Omega_{0 {\rm m}}}$ from the respective low redshift
observables and indirect measurements of these quantities from the cosmic
microwave background (CMB). In this work we reconstruct a model independent
approach that boils down to different classes of cosmological models under
suitable parameters choices. We test this parameterization against the latest
Planck CMB data combined with recent BAO, SNeIa datasets and the R16 direct
$H_0$ measurements, and compare among different cosmological models. Our
analysis reveals that a strong positive correlation between $H_0$ and
$\sigma_8$ is more or less generic, irrespective of the choice of cosmological
models. We also find that present data slightly prefers a phantom equation of
state for dark energy and a slight negative value for effective equation of
state for dark matter (which is a direct signature of interacting models) with
a relatively high value for $H_0$ consistent with R16 and simultaneously, a
consistent value for $\Omega_{0 {\rm m}}$. Thus, even though the tensions
cannot be fully resolved, interacting models with phantom equation of state get
a slight edge over the others for currently available data. We also see that
allowing interaction between dark energy and dark matter may resolve the
tension between the high redshift CMB data and individual low redshift
datasets, but the low redshift datasets have inconsistencies between them (e.g.
between BAO and $H_0$, SNeIa and BAO, and cluster counts and $H_0$) that are
practically independent of the cosmological model.
