Calamos Hedged Correlations

Mutual Funds . USA . 
Fund . Calamos Hedged Equity
CAHEX Fund  USD 17.11  0.15  0.88%   
The current 90-days correlation between Calamos Hedged Equity and American Beacon Soundpointfltrtinc is -0.23 (i.e., Very good diversification). The correlation of Calamos Hedged is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Calamos Hedged Correlation With Market

Good diversification

The correlation between Calamos Hedged Equity and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Hedged Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Calamos Hedged Equity. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Calamos Mutual Fund

  0.99SROIX Calamos AntetokounmpoPairCorr
  0.86SROAX Innealta Capital SectorPairCorr
  0.99SROCX Calamos AntetokounmpoPairCorr
  0.99SRORX Calamos AntetokounmpoPairCorr
  0.99CVAIX Calamos OpportunisticPairCorr
  0.99CVACX Calamos OpportunisticPairCorr
  0.68CVGRX Calamos GrowthPairCorr
  0.95CVLOX Calamos Global GrowthPairCorr
  0.91CVTCX Calamos Growth IncomePairCorr
  0.71CVTRX Calamos Growth IncomePairCorr
  0.7CGIOX Calamos Growth AndPairCorr
  0.7CGIIX Calamos Growth IncomePairCorr
  0.75CGRIX Calamos GrowthPairCorr
  0.97CIDVX Calamos Dividend GrowthPairCorr
  0.85CICVX Calamos ConvertiblePairCorr
  0.94CIGEX Calamos Global EquityPairCorr
  0.88CIHEX Calamos Hedged EquityPairCorr

Moving against Calamos Mutual Fund

  0.55CSTBX Calamos Short TermPairCorr
  0.54CSTIX Calamos Short TermPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
QLENX
+ 0.92
CVSIX
CPLSX
+ 0.53
CVSIX
CPLSX
+ 0.49
QLENX
CIHEX
+ 0.39
SPFPX
  
High negative correlations   
QLENX
- 0.92
SPFPX
CVSIX
- 0.81
SPFPX
CPLSX
- 0.33
SPFPX
QLENX
- 0.21
CIHEX
CVSIX
- 0.11
CIHEX
CPLSX
- 0.05
CIHEX

Risk-Adjusted Indicators

There is a big difference between Calamos Mutual Fund performing well and Calamos Hedged Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Calamos Hedged's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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