Correlation Between Calamos Growth and Sentinel Small
Can any of the company-specific risk be diversified away by investing in both Calamos Growth and Sentinel Small 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 Sentinel Small 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 Sentinel Small Pany, you can compare the effects of market volatilities on Calamos Growth and Sentinel Small 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 Sentinel Small. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Growth and Sentinel Small.
Diversification Opportunities for Calamos Growth and Sentinel Small
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Calamos and Sentinel is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Growth Fund and Sentinel Small Pany in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sentinel Small Pany 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 Sentinel Small. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sentinel Small Pany has no effect on the direction of Calamos Growth i.e., Calamos Growth and Sentinel Small go up and down completely randomly.
Pair Corralation between Calamos Growth and Sentinel Small
Assuming the 90 days horizon Calamos Growth Fund is expected to under-perform the Sentinel Small. In addition to that, Calamos Growth is 1.51 times more volatile than Sentinel Small Pany. It trades about 0.0 of its total potential returns per unit of risk. Sentinel Small Pany is currently generating about 0.26 per unit of volatility. If you would invest 603.00 in Sentinel Small Pany on November 5, 2024 and sell it today you would earn a total of 27.00 from holding Sentinel Small Pany or generate 4.48% 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. Sentinel Small Pany
Performance |
| Timeline |
| Calamos Growth |
| Sentinel Small Pany |
Calamos Growth and Sentinel Small Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Growth and Sentinel Small
The main advantage of trading using opposite Calamos Growth and Sentinel Small positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Growth position performs unexpectedly, Sentinel Small 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 Sentinel Small will offset losses from the drop in Sentinel Small's long position.| Calamos Growth vs. Kinetics Market Opportunities | Calamos Growth vs. Siit Emerging Markets | Calamos Growth vs. Victory Cemp Market | Calamos Growth vs. Artisan Developing World |
| Sentinel Small vs. Sentinel Mon Stock | Sentinel Small vs. Sentinel International Equity | Sentinel Small vs. Sentinel Balanced Fund | Sentinel Small vs. Calamos Growth Fund |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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