Calamos Global Correlations

Mutual Funds . USA . 
Fund . Calamos Global Equity
CIGEX Fund  USD 17.11  0.25  1.48%   
The current 90-days correlation between Calamos Global Equity and Diversified Bond Fund is 0.04 (i.e., Significant diversification). The correlation of Calamos Global 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 Global Correlation With Market

Very weak diversification

The correlation between Calamos Global Equity and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Global 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 Global 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

  0.77SROIX Calamos AntetokounmpoPairCorr
  0.95CVAAX Calamos OpportunisticPairCorr
  0.94CVGRX Calamos GrowthPairCorr
  0.97CVGCX Calamos GrowthPairCorr
  0.98CVLCX Calamos Global GrowthPairCorr
  0.93CVTCX Calamos Growth IncomePairCorr
  0.93CVTRX Calamos Growth IncomePairCorr
  0.98CGCIX Calamos Global GrowthPairCorr
  1.0CGEOX Calamos Global EquityPairCorr
  0.93CGIOX Calamos Growth AndPairCorr
  0.93CGIIX Calamos Growth IncomePairCorr
  0.9CGRIX Calamos GrowthPairCorr
  0.79CICVX Calamos ConvertiblePairCorr
  0.71CIHEX Calamos Hedged EquityPairCorr

Moving against Calamos Mutual Fund

  0.47CVSIX Calamos Market NeutralPairCorr
  0.4CVSCX Calamos Market NeutralPairCorr
  0.44CMNIX Calamos Market NeutralPairCorr

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   
BDVFX
+ 0.98
CDBCX
PGBAX
+ 0.95
CDBCX
HIIDX
+ 0.92
PGBAX
BDVFX
+ 0.92
PGBAX
HIIDX
+ 0.86
CDBCX
BDVFX
+ 0.86
HIIDX
  
High negative correlations   
SRDAX
- 0.44
BDVFX
SRDAX
- 0.43
CDBCX
SRDAX
- 0.31
HIIDX
SRDAX
- 0.28
PGBAX

Risk-Adjusted Indicators

There is a big difference between Calamos Mutual Fund performing well and Calamos Global 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 Global'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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