Correlation Between Calvert Global and American Mutual
Can any of the company-specific risk be diversified away by investing in both Calvert Global and American Mutual 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 Global and American Mutual into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert Global Energy and American Mutual Fund, you can compare the effects of market volatilities on Calvert Global and American Mutual 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 Global with a short position of American Mutual. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert Global and American Mutual.
Diversification Opportunities for Calvert Global and American Mutual
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Calvert and American is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Global Energy and American Mutual Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on American Mutual and Calvert Global 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 Global Energy are associated (or correlated) with American Mutual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Mutual has no effect on the direction of Calvert Global i.e., Calvert Global and American Mutual go up and down completely randomly.
Pair Corralation between Calvert Global and American Mutual
If you would invest 1,078 in Calvert Global Energy on September 14, 2024 and sell it today you would earn a total of 16.00 from holding Calvert Global Energy or generate 1.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Calvert Global Energy vs. American Mutual Fund
Performance |
| Timeline |
| Calvert Global Energy |
| American Mutual |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Calvert Global and American Mutual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calvert Global and American Mutual
The main advantage of trading using opposite Calvert Global and American Mutual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert Global position performs unexpectedly, American Mutual 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 American Mutual will offset losses from the drop in American Mutual's long position.| Calvert Global vs. Ep Emerging Markets | Calvert Global vs. Calvert Developed Market | Calvert Global vs. Rbc Emerging Markets | Calvert Global vs. Aqr Long Short Equity |
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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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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