Correlation Between Baillie Gifford and Calamos Global
Can any of the company-specific risk be diversified away by investing in both Baillie Gifford and Calamos Global 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 Baillie Gifford and Calamos Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Baillie Gifford Health and Calamos Global Sustainable, you can compare the effects of market volatilities on Baillie Gifford and Calamos Global 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 Baillie Gifford with a short position of Calamos Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baillie Gifford and Calamos Global.
Diversification Opportunities for Baillie Gifford and Calamos Global
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Baillie and Calamos is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Baillie Gifford Health and Calamos Global Sustainable in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Global Susta and Baillie Gifford 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 Baillie Gifford Health are associated (or correlated) with Calamos Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Global Susta has no effect on the direction of Baillie Gifford i.e., Baillie Gifford and Calamos Global go up and down completely randomly.
Pair Corralation between Baillie Gifford and Calamos Global
If you would invest 571.00 in Baillie Gifford Health on September 24, 2024 and sell it today you would earn a total of 2.00 from holding Baillie Gifford Health or generate 0.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Baillie Gifford Health vs. Calamos Global Sustainable
Performance |
| Timeline |
| Baillie Gifford Health |
| Calamos Global Susta |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Baillie Gifford and Calamos Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baillie Gifford and Calamos Global
The main advantage of trading using opposite Baillie Gifford and Calamos Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baillie Gifford position performs unexpectedly, Calamos Global 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 Global will offset losses from the drop in Calamos Global's long position.| Baillie Gifford vs. The Eafe Pure | Baillie Gifford vs. The Long Term | Baillie Gifford vs. Baillie Gifford International | Baillie Gifford vs. Baillie Gifford International |
| Calamos Global vs. Baillie Gifford Health | Calamos Global vs. Alger Health Sciences | Calamos Global vs. Hartford Healthcare Hls | Calamos Global vs. Allianzgi Health Sciences |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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