Correlation Between Calamos Dynamic and Eagle Mlp
Can any of the company-specific risk be diversified away by investing in both Calamos Dynamic and Eagle Mlp 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 Calamos Dynamic and Eagle Mlp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Dynamic Convertible and Eagle Mlp Strategy, you can compare the effects of market volatilities on Calamos Dynamic and Eagle Mlp 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 Calamos Dynamic with a short position of Eagle Mlp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dynamic and Eagle Mlp.
Diversification Opportunities for Calamos Dynamic and Eagle Mlp
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Calamos and Eagle is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and Eagle Mlp Strategy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eagle Mlp Strategy and Calamos Dynamic 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 Calamos Dynamic Convertible are associated (or correlated) with Eagle Mlp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eagle Mlp Strategy has no effect on the direction of Calamos Dynamic i.e., Calamos Dynamic and Eagle Mlp go up and down completely randomly.
Pair Corralation between Calamos Dynamic and Eagle Mlp
Considering the 90-day investment horizon Calamos Dynamic is expected to generate 1.37 times less return on investment than Eagle Mlp. In addition to that, Calamos Dynamic is 1.12 times more volatile than Eagle Mlp Strategy. It trades about 0.07 of its total potential returns per unit of risk. Eagle Mlp Strategy is currently generating about 0.11 per unit of volatility. If you would invest 641.00 in Eagle Mlp Strategy on September 14, 2024 and sell it today you would earn a total of 415.00 from holding Eagle Mlp Strategy or generate 64.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Dynamic Convertible vs. Eagle Mlp Strategy
Performance |
| Timeline |
| Calamos Dynamic Conv |
| Eagle Mlp Strategy |
Calamos Dynamic and Eagle Mlp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Dynamic and Eagle Mlp
The main advantage of trading using opposite Calamos Dynamic and Eagle Mlp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dynamic position performs unexpectedly, Eagle Mlp 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 Eagle Mlp will offset losses from the drop in Eagle Mlp's long position.| Calamos Dynamic vs. Calamos Convertible Opportunities | Calamos Dynamic vs. Calamos Global Dynamic | Calamos Dynamic vs. Calamos Strategic Total | Calamos Dynamic vs. Calamos LongShort Equity |
| Eagle Mlp vs. Blrc Sgy Mnp | Eagle Mlp vs. Alliancebernstein Bond | Eagle Mlp vs. Pace High Yield | Eagle Mlp vs. Artisan High Income |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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