Correlation Between Calamos Dynamic and Rbc Funds
Can any of the company-specific risk be diversified away by investing in both Calamos Dynamic and Rbc Funds 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 Rbc Funds 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 Rbc Funds Trust, you can compare the effects of market volatilities on Calamos Dynamic and Rbc Funds 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 Rbc Funds. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dynamic and Rbc Funds.
Diversification Opportunities for Calamos Dynamic and Rbc Funds
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Calamos and Rbc is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and Rbc Funds Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rbc Funds Trust 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 Rbc Funds. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rbc Funds Trust has no effect on the direction of Calamos Dynamic i.e., Calamos Dynamic and Rbc Funds go up and down completely randomly.
Pair Corralation between Calamos Dynamic and Rbc Funds
Considering the 90-day investment horizon Calamos Dynamic Convertible is expected to generate 0.93 times more return on investment than Rbc Funds. However, Calamos Dynamic Convertible is 1.07 times less risky than Rbc Funds. It trades about 0.07 of its potential returns per unit of risk. Rbc Funds Trust is currently generating about -0.01 per unit of risk. If you would invest 2,149 in Calamos Dynamic Convertible on September 3, 2024 and sell it today you would earn a total of 228.00 from holding Calamos Dynamic Convertible or generate 10.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Dynamic Convertible vs. Rbc Funds Trust
Performance |
| Timeline |
| Calamos Dynamic Conv |
| Rbc Funds Trust |
Calamos Dynamic and Rbc Funds Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Dynamic and Rbc Funds
The main advantage of trading using opposite Calamos Dynamic and Rbc Funds positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dynamic position performs unexpectedly, Rbc Funds 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 Rbc Funds will offset losses from the drop in Rbc Funds' 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 |
| Rbc Funds vs. Gabelli Convertible And | Rbc Funds vs. Absolute Convertible Arbitrage | Rbc Funds vs. Calamos Dynamic Convertible | Rbc Funds vs. Advent Claymore Convertible |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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