Correlation Between Calamos Strategic and Cohen
Can any of the company-specific risk be diversified away by investing in both Calamos Strategic and Cohen 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 Cohen 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 Cohen And Steers, you can compare the effects of market volatilities on Calamos Strategic and Cohen 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 Cohen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Strategic and Cohen.
Diversification Opportunities for Calamos Strategic and Cohen
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Calamos and Cohen is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Strategic Total and Cohen And Steers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cohen And Steers 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 Cohen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cohen And Steers has no effect on the direction of Calamos Strategic i.e., Calamos Strategic and Cohen go up and down completely randomly.
Pair Corralation between Calamos Strategic and Cohen
Considering the 90-day investment horizon Calamos Strategic Total is expected to generate 1.05 times more return on investment than Cohen. However, Calamos Strategic is 1.05 times more volatile than Cohen And Steers. It trades about 0.15 of its potential returns per unit of risk. Cohen And Steers is currently generating about 0.11 per unit of risk. If you would invest 1,750 in Calamos Strategic Total on August 26, 2024 and sell it today you would earn a total of 51.00 from holding Calamos Strategic Total or generate 2.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Strategic Total vs. Cohen And Steers
Performance |
| Timeline |
| Calamos Strategic Total |
| Cohen And Steers |
Calamos Strategic and Cohen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Strategic and Cohen
The main advantage of trading using opposite Calamos Strategic and Cohen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Strategic position performs unexpectedly, Cohen 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 Cohen will offset losses from the drop in Cohen's long position.| Calamos Strategic vs. Allspring Income Opportunities | Calamos Strategic vs. Allspring Global Dividend | Calamos Strategic vs. Blackstone Gso Senior | Calamos Strategic vs. John Hancock Preferred |
| Cohen vs. Cohen Steers Reit | Cohen vs. Dnp Select Income | Cohen vs. Cohen Steers Qualityome | Cohen vs. Pimco Dynamic Income |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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