Correlation Between Blackrock Government and Calamos Global
Can any of the company-specific risk be diversified away by investing in both Blackrock Government 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 Blackrock Government and Calamos Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackrock Government Bond and Calamos Global Sustainable, you can compare the effects of market volatilities on Blackrock Government 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 Blackrock Government with a short position of Calamos Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackrock Government and Calamos Global.
Diversification Opportunities for Blackrock Government and Calamos Global
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Blackrock and Calamos is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Government Bond 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 Blackrock Government 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 Blackrock Government Bond 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 Blackrock Government i.e., Blackrock Government and Calamos Global go up and down completely randomly.
Pair Corralation between Blackrock Government and Calamos Global
Assuming the 90 days horizon Blackrock Government is expected to generate 1.11 times less return on investment than Calamos Global. But when comparing it to its historical volatility, Blackrock Government Bond is 1.41 times less risky than Calamos Global. It trades about 0.01 of its potential returns per unit of risk. Calamos Global Sustainable is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 814.00 in Calamos Global Sustainable on October 1, 2024 and sell it today you would earn a total of 4.00 from holding Calamos Global Sustainable or generate 0.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 19.35% |
| Values | Daily Returns |
Blackrock Government Bond vs. Calamos Global Sustainable
Performance |
| Timeline |
| Blackrock Government Bond |
| Calamos Global Susta |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Blackrock Government and Calamos Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackrock Government and Calamos Global
The main advantage of trading using opposite Blackrock Government and Calamos Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackrock Government 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.| Blackrock Government vs. General Money Market | Blackrock Government vs. Ab Government Exchange | Blackrock Government vs. Ubs Money Series | Blackrock Government vs. Chestnut Street Exchange |
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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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