Correlation Between Calvert Developed and Credit Suisse
Can any of the company-specific risk be diversified away by investing in both Calvert Developed and Credit Suisse 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 Calvert Developed and Credit Suisse into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert Developed Market and Credit Suisse Multialternative, you can compare the effects of market volatilities on Calvert Developed and Credit Suisse 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 Calvert Developed with a short position of Credit Suisse. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert Developed and Credit Suisse.
Diversification Opportunities for Calvert Developed and Credit Suisse
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Calvert and Credit is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Developed Market and Credit Suisse Multialternative in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Credit Suisse Multia and Calvert Developed 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 Calvert Developed Market are associated (or correlated) with Credit Suisse. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Credit Suisse Multia has no effect on the direction of Calvert Developed i.e., Calvert Developed and Credit Suisse go up and down completely randomly.
Pair Corralation between Calvert Developed and Credit Suisse
Assuming the 90 days horizon Calvert Developed Market is expected to under-perform the Credit Suisse. In addition to that, Calvert Developed is 3.55 times more volatile than Credit Suisse Multialternative. It trades about -0.01 of its total potential returns per unit of risk. Credit Suisse Multialternative is currently generating about 0.06 per unit of volatility. If you would invest 830.00 in Credit Suisse Multialternative on December 31, 2024 and sell it today you would earn a total of 3.00 from holding Credit Suisse Multialternative or generate 0.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calvert Developed Market vs. Credit Suisse Multialternative
Performance |
| Timeline |
| Calvert Developed Market |
| Credit Suisse Multia |
Calvert Developed and Credit Suisse Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calvert Developed and Credit Suisse
The main advantage of trading using opposite Calvert Developed and Credit Suisse positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert Developed position performs unexpectedly, Credit Suisse 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 Credit Suisse will offset losses from the drop in Credit Suisse's long position.| Calvert Developed vs. Calvert Large Cap | ||
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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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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