Correlation Between Calamos Phineus and 2 Year
Can any of the company-specific risk be diversified away by investing in both Calamos Phineus and 2 Year 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 Phineus and 2 Year into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Phineus Longshort and 2 Year T Note Futures, you can compare the effects of market volatilities on Calamos Phineus and 2 Year 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 Phineus with a short position of 2 Year. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Phineus and 2 Year.
Diversification Opportunities for Calamos Phineus and 2 Year
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Calamos and ZTUSD is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Phineus Longshort and 2 Year T Note Futures in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 2 Year T and Calamos Phineus 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 Phineus Longshort are associated (or correlated) with 2 Year. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 2 Year T has no effect on the direction of Calamos Phineus i.e., Calamos Phineus and 2 Year go up and down completely randomly.
Pair Corralation between Calamos Phineus and 2 Year
Assuming the 90 days horizon Calamos Phineus Longshort is expected to generate 3.32 times more return on investment than 2 Year. However, Calamos Phineus is 3.32 times more volatile than 2 Year T Note Futures. It trades about 0.06 of its potential returns per unit of risk. 2 Year T Note Futures is currently generating about 0.0 per unit of risk. If you would invest 1,504 in Calamos Phineus Longshort on August 29, 2024 and sell it today you would earn a total of 233.00 from holding Calamos Phineus Longshort or generate 15.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 97.45% |
| Values | Daily Returns |
Calamos Phineus Longshort vs. 2 Year T Note Futures
Performance |
| Timeline |
| Calamos Phineus Longshort |
| 2 Year T |
Calamos Phineus and 2 Year Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Phineus and 2 Year
The main advantage of trading using opposite Calamos Phineus and 2 Year positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Phineus position performs unexpectedly, 2 Year 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 2 Year will offset losses from the drop in 2 Year's long position.| Calamos Phineus vs. Neuberger Berman Long | Calamos Phineus vs. Neuberger Berman Long | Calamos Phineus vs. Pimco Rae Worldwide |
| 2 Year vs. Natural Gas | 2 Year vs. Five Year Treasury Note | 2 Year vs. Micro Gold Futures | 2 Year vs. Class III Milk |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. |