Calamos Strategic Correlations

CSQ Fund  USD 16.59  0.02  0.12%   
The current 90-days correlation between Calamos Strategic Total and Calamos LongShort Equity is 0.2 (i.e., Modest diversification). The correlation of Calamos Strategic 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 Strategic Correlation With Market

Poor diversification

The correlation between Calamos Strategic Total and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Strategic Total 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 Strategic Total. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Calamos Fund

  0.93VSTSX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  0.91VFIAX Vanguard 500 IndexPairCorr
  0.97VINIX Vanguard InstitutionalPairCorr
  0.93VTSAX Vanguard Total StockPairCorr

Moving against Calamos Fund

  0.98RYUHX Inverse Sp 500PairCorr
  0.59WATCX Western Asset IntermPairCorr
  0.59ACCSX Access Capital MunityPairCorr
  0.56GIGGX Deutsche GnmaPairCorr
  0.45REMVX Rbc Emerging MarketsPairCorr
  0.41CCLFX Cliffwater CorporatePairCorr
  0.4VMSAX Vanguard Multi SectorPairCorr
  0.35VTISX Vanguard Total InterPairCorr
  0.35VTSNX Vanguard Total InterPairCorr
  0.35VTPSX Vanguard Total InterPairCorr
  0.64ASBFX Short Term BondPairCorr
  0.64SNGYX Sit Government SecuritiesPairCorr
  0.6FLRRX Franklin Low DurationPairCorr
  0.59HIMZX Virtus Low DurationPairCorr
  0.56NWJJX Nationwide Highmark BondPairCorr
  0.54NECRX Loomis Sayles EPairCorr
  0.53FXIDX Fixed Income SharesPairCorr
  0.49PDINX Putnam Diversified IncomePairCorr
  0.47UTDIX My529 International ValuePairCorr
  0.43PUGCX Putnam Global EquityPairCorr

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   
CHYCHI
ETOETG
ETVCCD
CCDCHI
ETOCHW
ETVCHW
  
High negative correlations   
CHYCPZ
HTDCHY
CPZCHI
HTDCHI
CPZCCD
HTDCCD

Risk-Adjusted Indicators

There is a big difference between Calamos Fund performing well and Calamos Strategic 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 Strategic'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.