Calamos Alternative Correlations

CANQ Etf

28.72 0.56 1.99%

The current 90-days correlation between Calamos Alternative and iShares Core Growth is 0.76 (i.e., Poor diversification). The correlation of Calamos Alternative 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 Alternative Correlation With Market

Very weak diversification

The correlation between Calamos Alternative Nasdaq and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Alternative Nasdaq 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 Alternative Nasdaq. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Calamos Etf

0.78	AOR	iShares Core Growth	Pair Corr
0.86	GDMA	Alpha Architect Gdsdn	Pair Corr
0.98	TUG	STF Tactical Growth	Pair Corr
0.74	RAAX	VanEck Inflation All	Pair Corr
0.96	OCIO	ClearShares OCIO ETF	Pair Corr
0.9	MFUL	Collaborative Investment	Pair Corr
0.88	RULE	Collaborative Investment	Pair Corr
0.92	MAPP	Harbor ETF Trust	Pair Corr
0.82	EVUS	iShares ESG Aware	Pair Corr
0.65	XOP	SPDR SP Oil	Pair Corr
0.93	EOS	Eaton Vance Enhanced	Pair Corr
0.91	VBK	Vanguard Small Cap	Pair Corr
0.65	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.87	CSCO	Cisco Systems	Pair Corr
0.78	DIS	Walt Disney Sell-off Trend	Pair Corr
0.8	HD	Home Depot	Pair Corr
0.76	T	ATT Inc Sell-off Trend	Pair Corr
0.89	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.81	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.8	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Moving against Calamos Etf

0.64	GREI	Goldman Sachs Future	Pair Corr
0.53	HART	IQ Healthy Hearts	Pair Corr
0.4	MPRO	Northern Lights	Pair Corr
0.38	PRME	Prime Medicine, Common	Pair Corr
0.84	BITI	ProShares Trust Downward Rally	Pair Corr
0.84	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.73	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	AOR	GDMA	TUG	RAAX	MFUL	MPRO	INKM	RULE
AOR		0.87	0.72	0.57	0.79	0.19	0.62	0.6	AOR
GDMA	0.87		0.86	0.83	0.84	-0.15	0.3	0.73	GDMA
TUG	0.72	0.86		0.8	0.88	-0.5	0.04	0.89	TUG
RAAX	0.57	0.83	0.8		0.71	-0.41	-0.03	0.7	RAAX
MFUL	0.79	0.84	0.88	0.71		-0.2	0.41	0.93	MFUL
MPRO	0.19	-0.15	-0.5	-0.41	-0.2		0.75	-0.41	MPRO
INKM	0.62	0.3	0.04	-0.03	0.41	0.75		0.18	INKM
RULE	0.6	0.73	0.89	0.7	0.93	-0.41	0.18		RULE
	AOR	GDMA	TUG	RAAX	MFUL	MPRO	INKM	RULE

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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

RULE	+ 0.93	MFUL
RULE	+ 0.89	TUG
MFUL	+ 0.88	TUG
GDMA	+ 0.87	AOR
TUG	+ 0.86	GDMA
MFUL	+ 0.84	GDMA

High negative correlations

MPRO	- 0.5	TUG
RULE	- 0.41	MPRO
MPRO	- 0.41	RAAX
MPRO	- 0.2	MFUL
MPRO	- 0.15	GDMA
INKM	- 0.03	RAAX

Calamos Alternative Constituents Risk-Adjusted Indicators

There is a big difference between Calamos Etf performing well and Calamos Alternative ETF 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 Alternative'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
AOR	0.32	0.01	(0.18)	0.13	0.25	(0.36)	0.66	(0.63)	2.07
GDMA	0.41	0.01	(0.09)	0.14	0.41	(0.47)	0.89	(0.73)	2.98
TUG	0.71	0.10	0.09	0.24	0.74	(0.83)	1.50	(1.38)	5.55
RAAX	0.50	0.07	(0.03)	0.46	0.48	(0.55)	1.07	(0.97)	3.37
MFUL	0.16	0.00	(0.47)	0.12	0.00	(0.19)	0.32	(0.27)	0.97
MPRO	0.34	(0.05)	0.00	(0.15)	0.00	0.00	0.61	(0.68)	1.49
INKM	0.25	(0.02)	(0.36)	0.00	0.30	(0.27)	0.52	(0.50)	1.44
RULE	0.55	0.00	(0.04)	0.11	0.49	(0.65)	1.29	(0.96)	4.41

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