Correlation Between Calamos Global and Hartford Moderate
Can any of the company-specific risk be diversified away by investing in both Calamos Global and Hartford Moderate 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 Hartford Moderate into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Global Sustainable and Hartford Moderate Allocation, you can compare the effects of market volatilities on Calamos Global and Hartford Moderate 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 Hartford Moderate. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Global and Hartford Moderate.
Diversification Opportunities for Calamos Global and Hartford Moderate
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Calamos and Hartford is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Global Sustainable and Hartford Moderate Allocation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hartford Moderate 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 Sustainable are associated (or correlated) with Hartford Moderate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hartford Moderate has no effect on the direction of Calamos Global i.e., Calamos Global and Hartford Moderate go up and down completely randomly.
Pair Corralation between Calamos Global and Hartford Moderate
If you would invest 1,289 in Hartford Moderate Allocation on November 5, 2024 and sell it today you would earn a total of 20.00 from holding Hartford Moderate Allocation or generate 1.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 5.26% |
| Values | Daily Returns |
Calamos Global Sustainable vs. Hartford Moderate Allocation
Performance |
| Timeline |
| Calamos Global Susta |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Hartford Moderate |
Calamos Global and Hartford Moderate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Global and Hartford Moderate
The main advantage of trading using opposite Calamos Global and Hartford Moderate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Global position performs unexpectedly, Hartford Moderate 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 Hartford Moderate will offset losses from the drop in Hartford Moderate's long position.| Calamos Global vs. Jhancock Short Duration | Calamos Global vs. Ultra Short Fixed Income | Calamos Global vs. Touchstone Ultra Short | Calamos Global vs. Aamhimco Short Duration |
| Hartford Moderate vs. Angel Oak Multi Strategy | Hartford Moderate vs. Victory Cemp Market | Hartford Moderate vs. Federated Emerging Market | Hartford Moderate vs. Franklin Emerging Market |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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