Correlation Between Barings Emerging and Calamos Total
Can any of the company-specific risk be diversified away by investing in both Barings Emerging 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 Barings Emerging and Calamos Total into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Barings Emerging Markets and Calamos Total Return, you can compare the effects of market volatilities on Barings Emerging 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 Barings Emerging with a short position of Calamos Total. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barings Emerging and Calamos Total.
Diversification Opportunities for Barings Emerging and Calamos Total
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Barings and Calamos is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Barings Emerging Markets 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 Barings Emerging 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 Barings Emerging Markets 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 Barings Emerging i.e., Barings Emerging and Calamos Total go up and down completely randomly.
Pair Corralation between Barings Emerging and Calamos Total
Assuming the 90 days horizon Barings Emerging Markets is expected to generate 1.05 times more return on investment than Calamos Total. However, Barings Emerging is 1.05 times more volatile than Calamos Total Return. It trades about 0.07 of its potential returns per unit of risk. Calamos Total Return is currently generating about 0.07 per unit of risk. If you would invest 713.00 in Barings Emerging Markets on September 4, 2024 and sell it today you would earn a total of 44.00 from holding Barings Emerging Markets or generate 6.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Barings Emerging Markets vs. Calamos Total Return
Performance |
| Timeline |
| Barings Emerging Markets |
| Calamos Total Return |
Barings Emerging and Calamos Total Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Barings Emerging and Calamos Total
The main advantage of trading using opposite Barings Emerging and Calamos Total positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barings Emerging 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.| Barings Emerging vs. T Rowe Price | Barings Emerging vs. Volumetric Fund Volumetric | Barings Emerging vs. Rbb Fund | Barings Emerging vs. T Rowe Price |
| Calamos Total vs. Calamos Antetokounmpo Sustainable | Calamos Total vs. Innealta Capital Sector | Calamos Total vs. Calamos Antetokounmpo Sustainable | Calamos Total vs. Calamos Antetokounmpo Sustainable |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |