Correlation Between Calamos Global and Real Estate
Can any of the company-specific risk be diversified away by investing in both Calamos Global and Real Estate 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 Global and Real Estate into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Global Equity and Real Estate Debt, you can compare the effects of market volatilities on Calamos Global and Real Estate 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 Global with a short position of Real Estate. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Global and Real Estate.
Diversification Opportunities for Calamos Global and Real Estate
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Calamos and Real is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Global Equity and Real Estate Debt in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Real Estate Debt and Calamos 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 Calamos Global Equity are associated (or correlated) with Real Estate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Real Estate Debt has no effect on the direction of Calamos Global i.e., Calamos Global and Real Estate go up and down completely randomly.
Pair Corralation between Calamos Global and Real Estate
Assuming the 90 days horizon Calamos Global Equity is expected to generate 1.0 times more return on investment than Real Estate. However, Calamos Global Equity is 1.0 times less risky than Real Estate. It trades about 0.18 of its potential returns per unit of risk. Real Estate Debt is currently generating about -0.03 per unit of risk. If you would invest 1,947 in Calamos Global Equity on September 12, 2024 and sell it today you would earn a total of 47.00 from holding Calamos Global Equity or generate 2.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Global Equity vs. Real Estate Debt
Performance |
| Timeline |
| Calamos Global Equity |
| Real Estate Debt |
Calamos Global and Real Estate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Global and Real Estate
The main advantage of trading using opposite Calamos Global and Real Estate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Global position performs unexpectedly, Real Estate 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 Real Estate will offset losses from the drop in Real Estate's long position.| Calamos Global vs. American Funds New | Calamos Global vs. American Funds New | Calamos Global vs. New Perspective Fund | Calamos Global vs. New Perspective Fund |
| Real Estate vs. Short Duration Inflation | Real Estate vs. Atac Inflation Rotation | Real Estate vs. Deutsche Global Inflation | Real Estate vs. Simt Multi Asset Inflation |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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