| CHYDX Fund | | | USD 7.88 0.02 0.25% |
The current 90-days correlation between Calamos High Income and Dreyfus Technology Growth is 0.17 (i.e., Average diversification). The correlation of Calamos High 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.
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Trending Equities to better understand how to build diversified portfolios. 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 unemployment.