Correlation Between Calamos Growth and Calvert Emerging
Can any of the company-specific risk be diversified away by investing in both Calamos Growth and Calvert Emerging 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 Growth and Calvert Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Growth Fund and Calvert Emerging Markets, you can compare the effects of market volatilities on Calamos Growth and Calvert Emerging 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 Growth with a short position of Calvert Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Growth and Calvert Emerging.
Diversification Opportunities for Calamos Growth and Calvert Emerging
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Calamos and Calvert is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Growth Fund and Calvert Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert Emerging Markets and Calamos Growth 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 Growth Fund are associated (or correlated) with Calvert Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert Emerging Markets has no effect on the direction of Calamos Growth i.e., Calamos Growth and Calvert Emerging go up and down completely randomly.
Pair Corralation between Calamos Growth and Calvert Emerging
Assuming the 90 days horizon Calamos Growth Fund is expected to generate 0.99 times more return on investment than Calvert Emerging. However, Calamos Growth Fund is 1.01 times less risky than Calvert Emerging. It trades about 0.04 of its potential returns per unit of risk. Calvert Emerging Markets is currently generating about 0.0 per unit of risk. If you would invest 801.00 in Calamos Growth Fund on October 16, 2024 and sell it today you would earn a total of 130.00 from holding Calamos Growth Fund or generate 16.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 97.37% |
| Values | Daily Returns |
Calamos Growth Fund vs. Calvert Emerging Markets
Performance |
| Timeline |
| Calamos Growth |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Calvert Emerging Markets |
Calamos Growth and Calvert Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Growth and Calvert Emerging
The main advantage of trading using opposite Calamos Growth and Calvert Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Growth position performs unexpectedly, Calvert Emerging 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 Calvert Emerging will offset losses from the drop in Calvert Emerging's long position.| Calamos Growth vs. M Large Cap | Calamos Growth vs. Fisher Large Cap | Calamos Growth vs. Qs Large Cap | Calamos Growth vs. Tax Managed Large Cap |
| Calvert Emerging vs. Calvert Small Cap | Calvert Emerging vs. Calvert Equity Portfolio | Calvert Emerging vs. Calvert International Opportunities | Calvert Emerging vs. Calvert Short Duration |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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