Correlation Between Blackrock Inflation and Calamos Total
Can any of the company-specific risk be diversified away by investing in both Blackrock Inflation and Calamos Total 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 Inflation and Calamos Total into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackrock Inflation Protected and Calamos Total Return, you can compare the effects of market volatilities on Blackrock Inflation and Calamos Total 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 Inflation with a short position of Calamos Total. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackrock Inflation and Calamos Total.
Diversification Opportunities for Blackrock Inflation and Calamos Total
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Blackrock and Calamos is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Blackrock Inflation Protected and Calamos Total Return in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Total Return and Blackrock Inflation 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 Inflation Protected are associated (or correlated) with Calamos Total. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Total Return has no effect on the direction of Blackrock Inflation i.e., Blackrock Inflation and Calamos Total go up and down completely randomly.
Pair Corralation between Blackrock Inflation and Calamos Total
Assuming the 90 days horizon Blackrock Inflation is expected to generate 1.74 times less return on investment than Calamos Total. But when comparing it to its historical volatility, Blackrock Inflation Protected is 1.37 times less risky than Calamos Total. It trades about 0.1 of its potential returns per unit of risk. Calamos Total Return is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 897.00 in Calamos Total Return on September 3, 2024 and sell it today you would earn a total of 8.00 from holding Calamos Total Return or generate 0.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackrock Inflation Protected vs. Calamos Total Return
Performance |
| Timeline |
| Blackrock Inflation |
| Calamos Total Return |
Blackrock Inflation and Calamos Total Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackrock Inflation and Calamos Total
The main advantage of trading using opposite Blackrock Inflation and Calamos Total positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackrock Inflation position performs unexpectedly, Calamos Total 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 Total will offset losses from the drop in Calamos Total's long position.| Blackrock Inflation vs. American Funds Inflation | Blackrock Inflation vs. American Funds Inflation | Blackrock Inflation vs. American Funds Inflation | Blackrock Inflation vs. American Funds Inflation |
| Calamos Total vs. Templeton Developing Markets | Calamos Total vs. Barings Emerging Markets | Calamos Total vs. Locorr Market Trend | Calamos Total vs. Massmutual Select Diversified |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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