Correlation Between Calamos Strategic and Short Term
Can any of the company-specific risk be diversified away by investing in both Calamos Strategic and Short Term 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 Short Term 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 Short Term Government Securities, you can compare the effects of market volatilities on Calamos Strategic and Short Term 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 Short Term. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Strategic and Short Term.
Diversification Opportunities for Calamos Strategic and Short Term
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Calamos and Short is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Strategic Total and Short Term Government Securiti in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Short Term Government 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 Short Term. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Short Term Government has no effect on the direction of Calamos Strategic i.e., Calamos Strategic and Short Term go up and down completely randomly.
Pair Corralation between Calamos Strategic and Short Term
Considering the 90-day investment horizon Calamos Strategic Total is expected to generate 4.89 times more return on investment than Short Term. However, Calamos Strategic is 4.89 times more volatile than Short Term Government Securities. It trades about 0.35 of its potential returns per unit of risk. Short Term Government Securities is currently generating about 0.06 per unit of risk. If you would invest 1,716 in Calamos Strategic Total on September 3, 2024 and sell it today you would earn a total of 98.00 from holding Calamos Strategic Total or generate 5.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Strategic Total vs. Short Term Government Securiti
Performance |
| Timeline |
| Calamos Strategic Total |
| Short Term Government |
Calamos Strategic and Short Term Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Strategic and Short Term
The main advantage of trading using opposite Calamos Strategic and Short Term positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Strategic position performs unexpectedly, Short Term 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 Short Term will offset losses from the drop in Short Term'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 |
| Short Term vs. Eaton Vance Short | Short Term vs. Vanguard Short Term Treasury | Short Term vs. Vanguard Short Term Treasury | Short Term vs. Vanguard Short Term Federal |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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