Correlation Between Bbh Intermediate and Calamos Dividend
Can any of the company-specific risk be diversified away by investing in both Bbh Intermediate and Calamos Dividend at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Bbh Intermediate and Calamos Dividend into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bbh Intermediate Municipal and Calamos Dividend Growth, you can compare the effects of market volatilities on Bbh Intermediate and Calamos Dividend and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Bbh Intermediate with a short position of Calamos Dividend. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bbh Intermediate and Calamos Dividend.
Diversification Opportunities for Bbh Intermediate and Calamos Dividend
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bbh and Calamos is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Bbh Intermediate Municipal and Calamos Dividend Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Dividend Growth and Bbh Intermediate is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Bbh Intermediate Municipal are associated (or correlated) with Calamos Dividend. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Dividend Growth has no effect on the direction of Bbh Intermediate i.e., Bbh Intermediate and Calamos Dividend go up and down completely randomly.
Pair Corralation between Bbh Intermediate and Calamos Dividend
Assuming the 90 days horizon Bbh Intermediate is expected to generate 3.97 times less return on investment than Calamos Dividend. But when comparing it to its historical volatility, Bbh Intermediate Municipal is 4.46 times less risky than Calamos Dividend. It trades about 0.18 of its potential returns per unit of risk. Calamos Dividend Growth is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 1,452 in Calamos Dividend Growth on September 1, 2024 and sell it today you would earn a total of 543.00 from holding Calamos Dividend Growth or generate 37.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.63% |
| Values | Daily Returns |
Bbh Intermediate Municipal vs. Calamos Dividend Growth
Performance |
| Timeline |
| Bbh Intermediate Mun |
| Calamos Dividend Growth |
Bbh Intermediate and Calamos Dividend Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bbh Intermediate and Calamos Dividend
The main advantage of trading using opposite Bbh Intermediate and Calamos Dividend positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bbh Intermediate position performs unexpectedly, Calamos Dividend can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Calamos Dividend will offset losses from the drop in Calamos Dividend's long position.| Bbh Intermediate vs. Nationwide Growth Fund | Bbh Intermediate vs. T Rowe Price | Bbh Intermediate vs. Eip Growth And | Bbh Intermediate vs. Small Pany Growth |
| Calamos Dividend vs. Calamos Antetokounmpo Sustainable | Calamos Dividend vs. Calamos Antetokounmpo Sustainable | Calamos Dividend vs. Calamos Opportunistic Value | Calamos Dividend vs. Calamos Growth Fund |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |