Correlation Between Calamos Market and Virtus International
Can any of the company-specific risk be diversified away by investing in both Calamos Market and Virtus International 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 Market and Virtus International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Market Neutral and Virtus International Wealth, you can compare the effects of market volatilities on Calamos Market and Virtus International 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 Market with a short position of Virtus International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Market and Virtus International.
Diversification Opportunities for Calamos Market and Virtus International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Calamos and VIRTUS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Market Neutral and Virtus International Wealth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Virtus International and Calamos Market 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 Market Neutral are associated (or correlated) with Virtus International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Virtus International has no effect on the direction of Calamos Market i.e., Calamos Market and Virtus International go up and down completely randomly.
Pair Corralation between Calamos Market and Virtus International
If you would invest 1,334 in Calamos Market Neutral on September 5, 2024 and sell it today you would earn a total of 172.00 from holding Calamos Market Neutral or generate 12.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Calamos Market Neutral vs. Virtus International Wealth
Performance |
| Timeline |
| Calamos Market Neutral |
| Virtus International |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Calamos Market and Virtus International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Market and Virtus International
The main advantage of trading using opposite Calamos Market and Virtus International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Market position performs unexpectedly, Virtus International 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 Virtus International will offset losses from the drop in Virtus International's long position.| Calamos Market vs. Innealta Capital Sector | Calamos Market vs. Calamos Antetokounmpo Sustainable | Calamos Market vs. Calamos Opportunistic Value | Calamos Market vs. Calamos Opportunistic Value |
| Virtus International vs. Transamerica Emerging Markets | Virtus International vs. Rbc Emerging Markets | Virtus International vs. Shelton Emerging Markets | Virtus International vs. Calamos Market Neutral |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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