Correlation Between Calamos Total and Ab Bond
Can any of the company-specific risk be diversified away by investing in both Calamos Total and Ab Bond 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 Total and Ab Bond into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Total Return and Ab Bond Inflation, you can compare the effects of market volatilities on Calamos Total and Ab Bond 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 Total with a short position of Ab Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Total and Ab Bond.
Diversification Opportunities for Calamos Total and Ab Bond
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Calamos and ANBIX is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Total Return and Ab Bond Inflation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab Bond Inflation and Calamos Total 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 Total Return are associated (or correlated) with Ab Bond. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab Bond Inflation has no effect on the direction of Calamos Total i.e., Calamos Total and Ab Bond go up and down completely randomly.
Pair Corralation between Calamos Total and Ab Bond
Assuming the 90 days horizon Calamos Total Return is expected to generate 2.23 times more return on investment than Ab Bond. However, Calamos Total is 2.23 times more volatile than Ab Bond Inflation. It trades about 0.12 of its potential returns per unit of risk. Ab Bond Inflation is currently generating about 0.21 per unit of risk. If you would invest 897.00 in Calamos Total Return on September 3, 2024 and sell it today you would earn a total of 8.00 from holding Calamos Total Return or generate 0.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Total Return vs. Ab Bond Inflation
Performance |
| Timeline |
| Calamos Total Return |
| Ab Bond Inflation |
Calamos Total and Ab Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Total and Ab Bond
The main advantage of trading using opposite Calamos Total and Ab Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Total position performs unexpectedly, Ab Bond 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 Ab Bond will offset losses from the drop in Ab Bond's long position.| Calamos Total vs. Templeton Developing Markets | Calamos Total vs. Barings Emerging Markets | Calamos Total vs. Locorr Market Trend | Calamos Total vs. Massmutual Select Diversified |
| Ab Bond vs. Qs Large Cap | Ab Bond vs. Rational Strategic Allocation | Ab Bond vs. Touchstone Large Cap | Ab Bond vs. Nationwide Global Equity |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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