Correlation Between Lind Capital and Calamos Global
Can any of the company-specific risk be diversified away by investing in both Lind Capital and Calamos Global 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 Lind Capital and Calamos Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lind Capital Partners and Calamos Global Vertible, you can compare the effects of market volatilities on Lind Capital and Calamos Global 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 Lind Capital with a short position of Calamos Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lind Capital and Calamos Global.
Diversification Opportunities for Lind Capital and Calamos Global
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Lind and Calamos is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Lind Capital Partners and Calamos Global Vertible in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Global Vertible and Lind Capital 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 Lind Capital Partners are associated (or correlated) with Calamos Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Global Vertible has no effect on the direction of Lind Capital i.e., Lind Capital and Calamos Global go up and down completely randomly.
Pair Corralation between Lind Capital and Calamos Global
Assuming the 90 days horizon Lind Capital Partners is expected to under-perform the Calamos Global. But the mutual fund apears to be less risky and, when comparing its historical volatility, Lind Capital Partners is 2.44 times less risky than Calamos Global. The mutual fund trades about -0.02 of its potential returns per unit of risk. The Calamos Global Vertible is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 1,224 in Calamos Global Vertible on December 28, 2024 and sell it today you would earn a total of 42.00 from holding Calamos Global Vertible or generate 3.43% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Lind Capital Partners vs. Calamos Global Vertible
Performance |
Timeline |
Lind Capital Partners |
Calamos Global Vertible |
Lind Capital and Calamos Global Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Lind Capital and Calamos Global
The main advantage of trading using opposite Lind Capital and Calamos Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lind Capital position performs unexpectedly, Calamos Global 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 Calamos Global will offset losses from the drop in Calamos Global's long position.Lind Capital vs. Vanguard Total Stock | Lind Capital vs. Vanguard 500 Index | Lind Capital vs. Vanguard Total Stock | Lind Capital vs. Vanguard Total Stock |
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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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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