Calamos Phineus Correlations

CPLIX Fund

USD 16.65 0.07 0.42%

The current 90-days correlation between Calamos Phineus Longshort and William Blair Small is -0.09 (i.e., Good diversification). The correlation of Calamos Phineus 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 Phineus Correlation With Market

Good diversification

The correlation between Calamos Phineus Longshort and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Phineus Longshort 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 Phineus Longshort. 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 gross domestic product.

Moving together with Calamos Mutual Fund

0.73	DHLSX	Diamond Hill Long	Pair Corr
0.73	DIAYX	Diamond Hill Long	Pair Corr
0.72	DIAMX	Diamond Hill Long	Pair Corr
0.64	PWLIX	Pimco Rae Worldwide	Pair Corr
0.65	PWLMX	Pimco Rae Worldwide	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr

Moving against Calamos Mutual Fund

0.43

Boeing

Pair Corr

Related Correlations Analysis

	WBVNX	SCYVX	HFMDX	QRSAX	VISVX	FCPVX	AFDVX
WBVNX		0.94	0.85	0.98	0.93	0.84	0.96	WBVNX
SCYVX	0.94		0.77	0.93	0.85	0.84	0.88	SCYVX
HFMDX	0.85	0.77		0.8	0.8	0.72	0.87	HFMDX
QRSAX	0.98	0.93	0.8		0.95	0.87	0.96	QRSAX
VISVX	0.93	0.85	0.8	0.95		0.91	0.98	VISVX
FCPVX	0.84	0.84	0.72	0.87	0.91		0.89	FCPVX
AFDVX	0.96	0.88	0.87	0.96	0.98	0.89		AFDVX
	WBVNX	SCYVX	HFMDX	QRSAX	VISVX	FCPVX	AFDVX

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Risk-Adjusted Indicators

There is a big difference between Calamos Mutual Fund performing well and Calamos Phineus 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 Phineus' 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
WBVNX	0.83	(0.15)	0.00	(0.23)	0.00	0.00	1.61	(1.82)	5.83
SCYVX	0.91	0.00	(0.05)	0.10	1.17	(1.00)	1.73	(1.66)	9.85
HFMDX	1.07	(0.34)	0.00	(0.38)	0.00	0.00	1.69	(1.63)	17.81
QRSAX	0.69	(0.12)	0.00	(0.23)	0.00	0.00	1.37	(1.30)	6.48
VISVX	0.67	(0.09)	0.00	(0.11)	0.00	0.00	1.44	(1.25)	5.42
FCPVX	0.85	0.01	(0.02)	0.11	1.02	(0.92)	1.70	(1.67)	10.16
AFDVX	0.74	(0.15)	0.00	(0.17)	0.00	0.00	1.44	(1.40)	5.36

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