Calamos Bitcoin Correlations

CBOJ Etf

24.01 0.02 0.08%

The current 90-days correlation between Calamos Bitcoin Stru and Proshares UltraShort Ether is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Calamos Bitcoin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Calamos Bitcoin Structured moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Calamos Bitcoin Correlation With Market

Very good diversification

The correlation between Calamos Bitcoin Structured and DJI is -0.5 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Bitcoin Structured and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Calamos Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Calamos Bitcoin Structured. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Calamos Etf

0.85	ARKW	ARK Next Generation	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.83	MSFT	Microsoft	Pair Corr

Moving against Calamos Etf

0.75	EWC	iShares MSCI Canada	Pair Corr
0.68	VTV	Vanguard Value Index	Pair Corr
0.59	WTMF	WisdomTree Managed	Pair Corr
0.57	VEA	Vanguard FTSE Developed	Pair Corr
0.52	VB	Vanguard Small Cap	Pair Corr
0.52	OIH	VanEck Oil Services	Pair Corr
0.36	VO	Vanguard Mid Cap	Pair Corr
0.32	VTI	Vanguard Total Stock	Pair Corr
0.32	SPY	SPDR SP 500	Pair Corr
0.32	IVV	iShares Core SP	Pair Corr
0.31	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.86	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.81	DD	Dupont De Nemours	Pair Corr
0.8	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr
0.65	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.64	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.57	MCD	McDonalds Sell-off Trend	Pair Corr
0.55	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.32	CVX	Chevron Corp	Pair Corr
0.31	VZ	Verizon Communications Upward Rally	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.32	0.12	0.19	0.01	-0.27	0.36	0.17	-0.09	0.03	META
MSFT	0.32		0.74	-0.47	0.28	0.38	0.44	-0.02	-0.8	-0.72	MSFT
UBER	0.12	0.74		-0.44	0.33	0.57	0.1	-0.2	-0.8	-0.53	UBER
F	0.19	-0.47	-0.44		-0.48	-0.24	-0.01	0.3	0.63	0.62	F
T	0.01	0.28	0.33	-0.48		0.44	-0.25	-0.27	-0.37	-0.38	T
A	-0.27	0.38	0.57	-0.24	0.44		-0.1	-0.13	-0.33	-0.54	A
CRM	0.36	0.44	0.1	-0.01	-0.25	-0.1		0.69	-0.15	-0.5	CRM
JPM	0.17	-0.02	-0.2	0.3	-0.27	-0.13	0.69		0.29	-0.13	JPM
MRK	-0.09	-0.8	-0.8	0.63	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.03	-0.72	-0.53	0.62	-0.38	-0.54	-0.5	-0.13	0.68		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.74	MSFT
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
MRK	+ 0.63	F
XOM	+ 0.62	F
A	+ 0.57	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.54	A
XOM	- 0.53	UBER
XOM	- 0.5	CRM

Calamos Bitcoin Competition Risk-Adjusted Indicators

There is a big difference between Calamos Etf performing well and Calamos Bitcoin 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 Bitcoin'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
META	1.60	0.02	0.00	(0.36)	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.28	0.03	0.00	0.26	1.46	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.17)	0.00	(0.37)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

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