Correlation Between Calamos Antetokounmpo and Calamos Growth
Can any of the company-specific risk be diversified away by investing in both Calamos Antetokounmpo and Calamos Growth 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 Calamos Antetokounmpo and Calamos Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Antetokounmpo Sustainable and Calamos Growth Income, you can compare the effects of market volatilities on Calamos Antetokounmpo and Calamos Growth 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 Calamos Antetokounmpo with a short position of Calamos Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Antetokounmpo and Calamos Growth.
Diversification Opportunities for Calamos Antetokounmpo and Calamos Growth
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Calamos and Calamos is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Antetokounmpo Sustaina and Calamos Growth Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Growth Income and Calamos Antetokounmpo 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 Calamos Antetokounmpo Sustainable are associated (or correlated) with Calamos Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Growth Income has no effect on the direction of Calamos Antetokounmpo i.e., Calamos Antetokounmpo and Calamos Growth go up and down completely randomly.
Pair Corralation between Calamos Antetokounmpo and Calamos Growth
Assuming the 90 days horizon Calamos Antetokounmpo Sustainable is expected to under-perform the Calamos Growth. In addition to that, Calamos Antetokounmpo is 1.02 times more volatile than Calamos Growth Income. It trades about -0.1 of its total potential returns per unit of risk. Calamos Growth Income is currently generating about -0.1 per unit of volatility. If you would invest 4,895 in Calamos Growth Income on December 29, 2024 and sell it today you would lose (272.00) from holding Calamos Growth Income or give up 5.56% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Calamos Antetokounmpo Sustaina vs. Calamos Growth Income
Performance |
Timeline |
Calamos Antetokounmpo |
Calamos Growth Income |
Calamos Antetokounmpo and Calamos Growth Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Calamos Antetokounmpo and Calamos Growth
The main advantage of trading using opposite Calamos Antetokounmpo and Calamos Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Antetokounmpo position performs unexpectedly, Calamos Growth 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 Growth will offset losses from the drop in Calamos Growth's long position.Calamos Antetokounmpo vs. Davis Financial Fund | Calamos Antetokounmpo vs. Fidelity Advisor Financial | Calamos Antetokounmpo vs. Rmb Mendon Financial | Calamos Antetokounmpo vs. Fidelity Advisor Financial |
Calamos Growth vs. Calamos Growth Fund | Calamos Growth vs. Davis New York | Calamos Growth vs. First Eagle Global | Calamos Growth vs. Calamos Vertible Fund |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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