Calamos Phineus Correlations

CPLSX Fund

USD 17.08 0.08 0.47%

The current 90-days correlation between Calamos Phineus Longshort and Calamos Phineus Longshort is 1.0 (i.e., No risk reduction). 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

Very weak diversification

The correlation between Calamos Phineus Longshort and DJI is 0.4 (i.e., Very weak 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 state.

Moving together with Calamos Mutual Fund

0.81	CVAIX	Calamos Opportunistic	Pair Corr
0.8	CVACX	Calamos Opportunistic	Pair Corr
0.8	CVAAX	Calamos Opportunistic	Pair Corr
0.82	CVGRX	Calamos Growth	Pair Corr
0.83	CVSIX	Calamos Market Neutral	Pair Corr
0.82	CVSCX	Calamos Market Neutral	Pair Corr
0.83	CVSOX	Calamos Market Neutral	Pair Corr
0.83	CVTRX	Calamos Growth Income	Pair Corr
0.72	CXGCX	Calamos Global Vertible	Pair Corr
0.64	CGCIX	Calamos Global Growth	Pair Corr
0.62	CGEOX	Calamos Global Equity	Pair Corr
0.83	CGIIX	Calamos Growth Income	Pair Corr
0.82	CGRIX	Calamos Growth	Pair Corr
0.85	CICVX	Calamos Convertible	Pair Corr
0.8	CIHEX	Calamos Hedged Equity	Pair Corr
0.83	CMNIX	Calamos Market Neutral	Pair Corr
1.0	CPCLX	Calamos Phineus Longshort	Pair Corr
1.0	CPLIX	Calamos Phineus Longshort	Pair Corr
0.81	CTASX	Calamos Timpani Small Steady Growth	Pair Corr
0.81	CTCSX	Calamos Timpani Small Steady Growth	Pair Corr
0.81	CTIGX	Calamos Timpani Smid	Pair Corr
0.81	CTOGX	Calamos Timpani Smid	Pair Corr
0.81	CTSIX	Calamos Timpani Small Steady Growth	Pair Corr
0.79	CCHEX	Calamos Hedged Equity	Pair Corr
0.85	CCVIX	Calamos Convertible	Pair Corr
0.79	NLSCX	Neuberger Berman Long	Pair Corr
0.8	NLSAX	Neuberger Berman Long	Pair Corr
0.81	NLSIX	Neuberger Berman Long	Pair Corr
0.82	QLERX	Aqr Long Short	Pair Corr

Moving against Calamos Mutual Fund

0.52	CISOX	Calamos International	Pair Corr
0.78	KF	Korea Closed	Pair Corr
0.5	BRUFX	Bruce Fund Bruce	Pair Corr

Related Correlations Analysis

	CPLIX	CVSIX	CPCLX	ASRLX	ASLKX
CPLIX		0.84	1.0	0.51	0.52	CPLIX
CVSIX	0.84		0.82	0.47	0.48	CVSIX
CPCLX	1.0	0.82		0.5	0.51	CPCLX
ASRLX	0.51	0.47	0.5		1.0	ASRLX
ASLKX	0.52	0.48	0.51	1.0		ASLKX
	CPLIX	CVSIX	CPCLX	ASRLX	ASLKX

Click cells to compare fundamentals

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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
CPLIX	0.28	0.00	(0.31)	0.10	0.25	(0.34)	0.64	(0.46)	1.92
CVSIX	0.08	0.01	(0.94)	0.19	0.00	(0.12)	0.20	(0.13)	0.53
CPCLX	0.29	(0.01)	(0.32)	0.08	0.26	(0.35)	0.63	(0.49)	1.94
ASRLX	0.33	0.03	(0.19)	0.70	0.31	(0.45)	0.76	(0.75)	1.93
ASLKX	0.33	0.03	(0.18)	0.74	0.31	(0.46)	0.78	(0.86)	1.93

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