Correlation Between Binance Coin and Calamos Growth
Can any of the company-specific risk be diversified away by investing in both Binance Coin and Calamos Growth 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 Binance Coin and Calamos Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Binance Coin and Calamos Growth Fund, you can compare the effects of market volatilities on Binance Coin and Calamos Growth 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 Binance Coin with a short position of Calamos Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Binance Coin and Calamos Growth.
Diversification Opportunities for Binance Coin and Calamos Growth
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Binance and Calamos is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Binance Coin and Calamos Growth Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Growth and Binance Coin 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 Binance Coin are associated (or correlated) with Calamos Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Growth has no effect on the direction of Binance Coin i.e., Binance Coin and Calamos Growth go up and down completely randomly.
Pair Corralation between Binance Coin and Calamos Growth
Assuming the 90 days trading horizon Binance Coin is expected to generate 9.94 times more return on investment than Calamos Growth. However, Binance Coin is 9.94 times more volatile than Calamos Growth Fund. It trades about 0.06 of its potential returns per unit of risk. Calamos Growth Fund is currently generating about 0.04 per unit of risk. If you would invest 30,486 in Binance Coin on October 16, 2024 and sell it today you would earn a total of 38,444 from holding Binance Coin or generate 126.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 61.83% |
| Values | Daily Returns |
Binance Coin vs. Calamos Growth Fund
Performance |
| Timeline |
| Binance Coin |
| Calamos Growth |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Binance Coin and Calamos Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Binance Coin and Calamos Growth
The main advantage of trading using opposite Binance Coin and Calamos Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Binance Coin position performs unexpectedly, Calamos Growth 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 Growth will offset losses from the drop in Calamos Growth's long position.| Binance Coin vs. Staked Ether | Binance Coin vs. Cronos | Binance Coin vs. Wrapped Bitcoin | Binance Coin vs. Monero |
| Calamos Growth vs. M Large Cap | Calamos Growth vs. Fisher Large Cap | Calamos Growth vs. Qs Large Cap | Calamos Growth vs. Tax Managed Large Cap |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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