Correlation Between Calamos Dynamic and Us Strategic
Can any of the company-specific risk be diversified away by investing in both Calamos Dynamic and Us Strategic 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 Us Strategic 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 Us Strategic Equity, you can compare the effects of market volatilities on Calamos Dynamic and Us Strategic 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 Us Strategic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dynamic and Us Strategic.
Diversification Opportunities for Calamos Dynamic and Us Strategic
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Calamos and RUSTX is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and Us Strategic Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Us Strategic Equity 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 Us Strategic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Us Strategic Equity has no effect on the direction of Calamos Dynamic i.e., Calamos Dynamic and Us Strategic go up and down completely randomly.
Pair Corralation between Calamos Dynamic and Us Strategic
Considering the 90-day investment horizon Calamos Dynamic is expected to generate 6.82 times less return on investment than Us Strategic. In addition to that, Calamos Dynamic is 1.1 times more volatile than Us Strategic Equity. It trades about 0.02 of its total potential returns per unit of risk. Us Strategic Equity is currently generating about 0.18 per unit of volatility. If you would invest 1,810 in Us Strategic Equity on August 27, 2024 and sell it today you would earn a total of 62.00 from holding Us Strategic Equity or generate 3.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Dynamic Convertible vs. Us Strategic Equity
Performance |
| Timeline |
| Calamos Dynamic Conv |
| Us Strategic Equity |
Calamos Dynamic and Us Strategic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Dynamic and Us Strategic
The main advantage of trading using opposite Calamos Dynamic and Us Strategic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dynamic position performs unexpectedly, Us Strategic 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 Us Strategic will offset losses from the drop in Us Strategic'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 |
| Us Strategic vs. Rationalpier 88 Convertible | Us Strategic vs. Absolute Convertible Arbitrage | Us Strategic vs. Calamos Dynamic Convertible | Us Strategic vs. Columbia Vertible Securities |
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.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Global Correlations Find global opportunities by holding instruments from different markets |