Correlation Between Calamos Dividend and Issachar Fund
Can any of the company-specific risk be diversified away by investing in both Calamos Dividend and Issachar Fund 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 Dividend and Issachar Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Dividend Growth and Issachar Fund Class, you can compare the effects of market volatilities on Calamos Dividend and Issachar Fund 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 Dividend with a short position of Issachar Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dividend and Issachar Fund.
Diversification Opportunities for Calamos Dividend and Issachar Fund
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Calamos and Issachar is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dividend Growth and Issachar Fund Class in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Issachar Fund Class and Calamos Dividend 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 Dividend Growth are associated (or correlated) with Issachar Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Issachar Fund Class has no effect on the direction of Calamos Dividend i.e., Calamos Dividend and Issachar Fund go up and down completely randomly.
Pair Corralation between Calamos Dividend and Issachar Fund
Assuming the 90 days horizon Calamos Dividend Growth is expected to generate 0.96 times more return on investment than Issachar Fund. However, Calamos Dividend Growth is 1.04 times less risky than Issachar Fund. It trades about 0.11 of its potential returns per unit of risk. Issachar Fund Class is currently generating about 0.05 per unit of risk. If you would invest 1,784 in Calamos Dividend Growth on September 5, 2024 and sell it today you would earn a total of 219.00 from holding Calamos Dividend Growth or generate 12.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Dividend Growth vs. Issachar Fund Class
Performance |
| Timeline |
| Calamos Dividend Growth |
| Issachar Fund Class |
Calamos Dividend and Issachar Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Dividend and Issachar Fund
The main advantage of trading using opposite Calamos Dividend and Issachar Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dividend position performs unexpectedly, Issachar Fund 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 Issachar Fund will offset losses from the drop in Issachar Fund's long position.| Calamos Dividend vs. Issachar Fund Class | Calamos Dividend vs. Volumetric Fund Volumetric | Calamos Dividend vs. Mirova Global Green | Calamos Dividend vs. Old Westbury Large |
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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