Calamos Bitcoin Correlations

CBOY Etf

24.31 0.02 0.08%

The current 90-days correlation between Calamos Bitcoin Stru and Harbor ETF Trust is 0.25 (i.e., Modest diversification). The correlation of Calamos Bitcoin 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 Bitcoin Correlation With Market

Very good diversification

The correlation between Calamos Bitcoin Structured and DJI is -0.31 (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 employment.

Moving together with Calamos Etf

0.73

MSFT

Microsoft

Pair Corr

Moving against Calamos Etf

0.6	TRV	The Travelers Companies	Pair Corr
0.54	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.46	VEA	Vanguard FTSE Developed	Pair Corr
0.42	BND	Vanguard Total Bond	Pair Corr
0.4	CPST	Calamos ETF Trust	Pair Corr
0.35	ITDD	iShares Trust	Pair Corr
0.33	VB	Vanguard Small Cap	Pair Corr
0.32	AA	Alcoa Corp	Pair Corr
0.79	CSCO	Cisco Systems Earnings Call Today	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr
0.72	VZ	Verizon Communications Aggressive Push	Pair Corr
0.64	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.62	PFE	Pfizer Inc	Pair Corr
0.58	PG	Procter Gamble	Pair Corr
0.52	CAT	Caterpillar	Pair Corr
0.47	DD	Dupont De Nemours	Pair Corr
0.46	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.47	-0.53	0.48	0.17	-0.58	-0.07	0.21	0.51	0.49	META
MSFT	-0.47		0.74	-0.51	-0.47	0.62	0.73	0.06	-0.81	-0.88	MSFT
UBER	-0.53	0.74		-0.46	-0.21	0.71	0.35	-0.11	-0.79	-0.66	UBER
F	0.48	-0.51	-0.46		-0.15	-0.35	-0.13	0.34	0.68	0.6	F
T	0.17	-0.47	-0.21	-0.15		-0.12	-0.64	-0.17	0.18	0.35	T
A	-0.58	0.62	0.71	-0.35	-0.12		0.31	-0.09	-0.53	-0.71	A
CRM	-0.07	0.73	0.35	-0.13	-0.64	0.31		0.49	-0.4	-0.73	CRM
JPM	0.21	0.06	-0.11	0.34	-0.17	-0.09	0.49		0.23	-0.07	JPM
MRK	0.51	-0.81	-0.79	0.68	0.18	-0.53	-0.4	0.23		0.77	MRK
XOM	0.49	-0.88	-0.66	0.6	0.35	-0.71	-0.73	-0.07	0.77		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

XOM	+ 0.77	MRK
UBER	+ 0.74	MSFT
CRM	+ 0.73	MSFT
A	+ 0.71	UBER
MRK	+ 0.68	F
A	+ 0.62	MSFT

High negative correlations

XOM	- 0.88	MSFT
MRK	- 0.81	MSFT
MRK	- 0.79	UBER
XOM	- 0.73	CRM
XOM	- 0.71	A
XOM	- 0.66	UBER

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	1.52	0.08	0.03	0.22	1.50	(1.76)	3.43	(2.67)	13.69
MSFT	1.36	(0.35)	0.00	(0.76)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.48	(0.41)	0.00	(0.68)	0.00	0.00	2.41	(3.82)	11.09
F	1.21	0.03	0.02	0.12	1.19	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.08	1.67	0.82	(1.06)	2.02	(1.54)	5.31
A	1.21	(0.31)	0.00	(0.16)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.68	(0.49)	0.00	(0.35)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.20	0.10	(0.01)	(0.27)	1.67	(1.24)	2.34	(3.11)	7.38
MRK	1.31	0.47	0.32	0.81	0.99	(1.62)	3.59	(1.98)	8.09
XOM	1.18	0.43	0.27	3.64	0.93	(1.41)	2.69	(2.11)	5.85

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