Correlation Between Calamos Growth and Lord Abbett
Can any of the company-specific risk be diversified away by investing in both Calamos Growth and Lord Abbett 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 Lord Abbett 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 Lord Abbett Short, you can compare the effects of market volatilities on Calamos Growth and Lord Abbett 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 Lord Abbett. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Growth and Lord Abbett.
Diversification Opportunities for Calamos Growth and Lord Abbett
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Calamos and Lord is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Growth Fund and Lord Abbett Short in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lord Abbett Short 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 Lord Abbett. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lord Abbett Short has no effect on the direction of Calamos Growth i.e., Calamos Growth and Lord Abbett go up and down completely randomly.
Pair Corralation between Calamos Growth and Lord Abbett
If you would invest 4,590 in Calamos Growth Fund on October 25, 2024 and sell it today you would earn a total of 44.00 from holding Calamos Growth Fund or generate 0.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Growth Fund vs. Lord Abbett Short
Performance |
| Timeline |
| Calamos Growth |
| Lord Abbett Short |
Calamos Growth and Lord Abbett Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Growth and Lord Abbett
The main advantage of trading using opposite Calamos Growth and Lord Abbett positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Growth position performs unexpectedly, Lord Abbett 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 Lord Abbett will offset losses from the drop in Lord Abbett'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 |
| Lord Abbett vs. Abbey Capital Futures | Lord Abbett vs. Fidelity Sai Inflationfocused | Lord Abbett vs. Guidepath Managed Futures | Lord Abbett vs. Lord Abbett Inflation |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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