Calamos Global Correlations

Mutual Funds . USA . 
Fund . Calamos Global Equity
CAGEX Fund  USD 16.70  0.16  0.97%   
The current 90-days correlation between Calamos Global Equity and Calamos International Growth is 0.87 (i.e., Very poor 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

Average diversification

The correlation between Calamos Global Equity and DJI is 0.11 (i.e., Average 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

  0.73SROIX Calamos AntetokounmpoPairCorr
  0.75SROAX Innealta Capital SectorPairCorr
  0.75SROCX Calamos AntetokounmpoPairCorr
  0.75SRORX Calamos AntetokounmpoPairCorr
  0.9CVAIX Calamos OpportunisticPairCorr
  0.99CVACX Calamos OpportunisticPairCorr
  0.98CVAAX Calamos OpportunisticPairCorr
  0.8CVGRX Calamos GrowthPairCorr
  0.98CVGCX Calamos GrowthPairCorr
  0.99CVLOX Calamos Global GrowthPairCorr
  0.85CVLCX Calamos Global GrowthPairCorr
  0.85CVTCX Calamos Growth IncomePairCorr
  0.86CVTRX Calamos Growth IncomePairCorr
  0.99CGCIX Calamos Global GrowthPairCorr
  0.88CGEOX Calamos Global EquityPairCorr
  0.83CGIOX Calamos Growth AndPairCorr
  0.89CGIIX Calamos Growth IncomePairCorr
  0.71CIDVX Calamos Dividend GrowthPairCorr
  0.91CIGRX Calamos InternationalPairCorr
  0.91CIGOX Calamos InternationalPairCorr
  0.89CIGIX Calamos InternationalPairCorr
  0.96CIGEX Calamos Global EquityPairCorr
  0.92CIGCX Calamos InternationalPairCorr

Moving against Calamos Mutual Fund

  0.46CVSIX Calamos Market NeutralPairCorr
  0.45CVSOX Calamos Market NeutralPairCorr
  0.44CVSCX Calamos Market NeutralPairCorr
  0.46CMNIX 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   
CVLOX
+ 0.95
CIGRX
CHYDX
+ 0.85
CVSIX
  
High negative correlations   
CVSIX
- 0.72
CIGRX
CVSIX
- 0.56
CVLOX
CHYDX
- 0.3
CIGRX
CHYDX
- 0.11
CVLOX

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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