Correlation Between Calamos Strategic and Crm Mid
Can any of the company-specific risk be diversified away by investing in both Calamos Strategic and Crm Mid 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 Strategic and Crm Mid into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Strategic Total and Crm Mid Cap, you can compare the effects of market volatilities on Calamos Strategic and Crm Mid 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 Strategic with a short position of Crm Mid. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Strategic and Crm Mid.
Diversification Opportunities for Calamos Strategic and Crm Mid
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Calamos and Crm is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Strategic Total and Crm Mid Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Crm Mid Cap and Calamos Strategic 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 Strategic Total are associated (or correlated) with Crm Mid. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Crm Mid Cap has no effect on the direction of Calamos Strategic i.e., Calamos Strategic and Crm Mid go up and down completely randomly.
Pair Corralation between Calamos Strategic and Crm Mid
Considering the 90-day investment horizon Calamos Strategic is expected to generate 1.04 times less return on investment than Crm Mid. But when comparing it to its historical volatility, Calamos Strategic Total is 1.11 times less risky than Crm Mid. It trades about 0.31 of its potential returns per unit of risk. Crm Mid Cap is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest 2,531 in Crm Mid Cap on September 1, 2024 and sell it today you would earn a total of 140.00 from holding Crm Mid Cap or generate 5.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Strategic Total vs. Crm Mid Cap
Performance |
| Timeline |
| Calamos Strategic Total |
| Crm Mid Cap |
Calamos Strategic and Crm Mid Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Strategic and Crm Mid
The main advantage of trading using opposite Calamos Strategic and Crm Mid positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Strategic position performs unexpectedly, Crm Mid 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 Crm Mid will offset losses from the drop in Crm Mid's long position.| Calamos Strategic vs. Calamos Convertible Opportunities | Calamos Strategic vs. Calamos Dynamic Convertible | Calamos Strategic vs. Calamos Global Dynamic | Calamos Strategic vs. Calamos LongShort Equity |
| Crm Mid vs. Crm Longshort Opport | Crm Mid vs. Crm All Cap | Crm Mid vs. Jpmorgan Smartretirement Blend | Crm Mid vs. Ladenburg Growth |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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