Correlation Between Calamos Short-term and Keeley International
Can any of the company-specific risk be diversified away by investing in both Calamos Short-term and Keeley 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 Short-term and Keeley International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Short Term Bond and Keeley International Small, you can compare the effects of market volatilities on Calamos Short-term and Keeley 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 Short-term with a short position of Keeley International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Short-term and Keeley International.
Diversification Opportunities for Calamos Short-term and Keeley International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Calamos and Keeley is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Short Term Bond and Keeley International Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeley International and Calamos Short-term 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 Short Term Bond are associated (or correlated) with Keeley International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeley International has no effect on the direction of Calamos Short-term i.e., Calamos Short-term and Keeley International go up and down completely randomly.
Pair Corralation between Calamos Short-term and Keeley International
If you would invest 952.00 in Calamos Short Term Bond on September 1, 2024 and sell it today you would earn a total of 2.00 from holding Calamos Short Term Bond or generate 0.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Calamos Short Term Bond vs. Keeley International Small
Performance |
| Timeline |
| Calamos Short Term |
| Keeley International |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Calamos Short-term and Keeley International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Short-term and Keeley International
The main advantage of trading using opposite Calamos Short-term and Keeley International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Short-term position performs unexpectedly, Keeley 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 Keeley International will offset losses from the drop in Keeley International's long position.| Calamos Short-term vs. Ab Bond Inflation | Calamos Short-term vs. Cref Inflation Linked Bond | Calamos Short-term vs. American Funds Inflation | Calamos Short-term vs. Oklahoma College Savings |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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