Correlation Between Calamos Growth and Guidepath Growth
Can any of the company-specific risk be diversified away by investing in both Calamos Growth and Guidepath Growth 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 Growth and Guidepath Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Growth Fund and Guidepath Growth And, you can compare the effects of market volatilities on Calamos Growth and Guidepath Growth 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 Growth with a short position of Guidepath Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Growth and Guidepath Growth.
Diversification Opportunities for Calamos Growth and Guidepath Growth
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Calamos and Guidepath is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Growth Fund and Guidepath Growth And in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guidepath Growth And and Calamos Growth 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 Growth Fund are associated (or correlated) with Guidepath Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guidepath Growth And has no effect on the direction of Calamos Growth i.e., Calamos Growth and Guidepath Growth go up and down completely randomly.
Pair Corralation between Calamos Growth and Guidepath Growth
Assuming the 90 days horizon Calamos Growth Fund is expected to generate 1.65 times more return on investment than Guidepath Growth. However, Calamos Growth is 1.65 times more volatile than Guidepath Growth And. It trades about 0.09 of its potential returns per unit of risk. Guidepath Growth And is currently generating about 0.09 per unit of risk. If you would invest 3,002 in Calamos Growth Fund on October 25, 2024 and sell it today you would earn a total of 1,632 from holding Calamos Growth Fund or generate 54.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Growth Fund vs. Guidepath Growth And
Performance |
| Timeline |
| Calamos Growth |
| Guidepath Growth And |
Calamos Growth and Guidepath Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Growth and Guidepath Growth
The main advantage of trading using opposite Calamos Growth and Guidepath Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Growth position performs unexpectedly, Guidepath Growth 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 Guidepath Growth will offset losses from the drop in Guidepath Growth's long position.| Calamos Growth vs. Dws Emerging Markets | Calamos Growth vs. Balanced Strategy Fund | Calamos Growth vs. Angel Oak Multi Strategy | Calamos Growth vs. Morgan Stanley Emerging |
| Guidepath Growth vs. Investec Emerging Markets | Guidepath Growth vs. Wasatch Frontier Emerging | Guidepath Growth vs. Embark Commodity Strategy | Guidepath Growth vs. Pimco Moditiesplus Strategy |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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