Calamos Hedged Correlations

CAHEX Fund

USD 17.48 0.06 0.34%

The current 90-days correlation between Calamos Hedged Equity and American Beacon Soundpointfltrtinc is 0.04 (i.e., Significant diversification). The correlation of Calamos Hedged 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 Hedged Correlation With Market

Significant diversification

The correlation between Calamos Hedged Equity and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Hedged 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 Hedged 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

0.99	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.99	GTENX	Gateway Fund Class	Pair Corr
0.99	GTECX	Gateway Fund Class	Pair Corr
0.85	GTEYX	Gateway Fund Class	Pair Corr
0.99	GATEX	Gateway Fund Class	Pair Corr
0.98	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.88	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.98	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.79	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.79	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.82	FSRBX	Banking Portfolio Banking	Pair Corr
0.93	TEGYX	Mid Cap Growth	Pair Corr
0.94	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.92	PRDSX	T Rowe Price	Pair Corr
0.66	GAB	Gabelli Equity Trust	Pair Corr
0.7	WMT	Walmart Aggressive Push	Pair Corr
0.78	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.71	HD	Home Depot	Pair Corr
0.68	DIS	Walt Disney Aggressive Push	Pair Corr
0.8	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.85	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.61	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr

Moving against Calamos Mutual Fund

0.51	BTMPX	Ishares Msci Eafe	Pair Corr
0.51	MDIIX	Blackrock Intern Index	Pair Corr
0.5	BTMKX	Blackrock International	Pair Corr
0.71	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.66	KO	Coca Cola Aggressive Push	Pair Corr
0.53	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.51	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.35	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	SPFPX	CIHEX	CVSIX	QLENX	CPLSX
SPFPX		0.83	0.89	0.51	0.72	SPFPX
CIHEX	0.83		0.96	0.7	0.79	CIHEX
CVSIX	0.89	0.96		0.7	0.83	CVSIX
QLENX	0.51	0.7	0.7		0.72	QLENX
CPLSX	0.72	0.79	0.83	0.72		CPLSX
	SPFPX	CIHEX	CVSIX	QLENX	CPLSX

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SPFPX	0.15	0.02	(0.30)	0.39	0.00	(0.37)	0.77	(0.25)	1.91
CIHEX	0.31	0.06	(0.12)	2.32	0.31	(0.34)	0.54	(0.78)	2.38
CVSIX	0.08	0.02	(0.87)	(2.31)	0.00	(0.12)	0.20	(0.13)	0.53
QLENX	0.31	0.08	(0.10)	(1.54)	0.20	(0.38)	0.76	(0.57)	2.17
CPLSX	0.28	0.01	(0.32)	(2.91)	0.27	(0.33)	0.65	(0.47)	1.96

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