Correlation Between Hussman Strategic and Calamos Market
Can any of the company-specific risk be diversified away by investing in both Hussman Strategic and Calamos Market 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 Hussman Strategic and Calamos Market into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hussman Strategic Growth and Calamos Market Neutral, you can compare the effects of market volatilities on Hussman Strategic and Calamos Market 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 Hussman Strategic with a short position of Calamos Market. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hussman Strategic and Calamos Market.
Diversification Opportunities for Hussman Strategic and Calamos Market
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Hussman and Calamos is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Hussman Strategic Growth and Calamos Market Neutral in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Market Neutral and Hussman Strategic 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 Hussman Strategic Growth are associated (or correlated) with Calamos Market. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Market Neutral has no effect on the direction of Hussman Strategic i.e., Hussman Strategic and Calamos Market go up and down completely randomly.
Pair Corralation between Hussman Strategic and Calamos Market
Assuming the 90 days horizon Hussman Strategic Growth is expected to under-perform the Calamos Market. In addition to that, Hussman Strategic is 2.41 times more volatile than Calamos Market Neutral. It trades about -0.06 of its total potential returns per unit of risk. Calamos Market Neutral is currently generating about 0.06 per unit of volatility. If you would invest 1,463 in Calamos Market Neutral on August 25, 2024 and sell it today you would earn a total of 59.00 from holding Calamos Market Neutral or generate 4.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hussman Strategic Growth vs. Calamos Market Neutral
Performance |
| Timeline |
| Hussman Strategic Growth |
| Calamos Market Neutral |
Hussman Strategic and Calamos Market Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hussman Strategic and Calamos Market
The main advantage of trading using opposite Hussman Strategic and Calamos Market positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hussman Strategic position performs unexpectedly, Calamos Market 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 Calamos Market will offset losses from the drop in Calamos Market's long position.| Hussman Strategic vs. Artisan High Income | Hussman Strategic vs. Pace Municipal Fixed | Hussman Strategic vs. T Rowe Price | Hussman Strategic vs. Pace Municipal Fixed |
| Calamos Market vs. The Arbitrage Fund | Calamos Market vs. The Merger Fund | Calamos Market vs. Gateway Fund Class | Calamos Market vs. Diamond Hill Long Short |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |