Correlation Between Intel and Calamos ETF
Can any of the company-specific risk be diversified away by investing in both Intel and Calamos ETF 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 Intel and Calamos ETF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intel and Calamos ETF Trust, you can compare the effects of market volatilities on Intel and Calamos ETF 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 Intel with a short position of Calamos ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intel and Calamos ETF.
Diversification Opportunities for Intel and Calamos ETF
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Intel and Calamos is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Intel and Calamos ETF Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos ETF Trust and Intel 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 Intel are associated (or correlated) with Calamos ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos ETF Trust has no effect on the direction of Intel i.e., Intel and Calamos ETF go up and down completely randomly.
Pair Corralation between Intel and Calamos ETF
Given the investment horizon of 90 days Intel is expected to generate 4.05 times less return on investment than Calamos ETF. In addition to that, Intel is 9.78 times more volatile than Calamos ETF Trust. It trades about 0.0 of its total potential returns per unit of risk. Calamos ETF Trust is currently generating about 0.19 per unit of volatility. If you would invest 2,434 in Calamos ETF Trust on August 30, 2024 and sell it today you would earn a total of 143.00 from holding Calamos ETF Trust or generate 5.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 21.41% |
| Values | Daily Returns |
Intel vs. Calamos ETF Trust
Performance |
| Timeline |
| Intel |
| Calamos ETF Trust |
Intel and Calamos ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intel and Calamos ETF
The main advantage of trading using opposite Intel and Calamos ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intel position performs unexpectedly, Calamos ETF 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 ETF will offset losses from the drop in Calamos ETF's long position.| Intel vs. ABIVAX Socit Anonyme | Intel vs. Morningstar Unconstrained Allocation | Intel vs. SPACE | Intel vs. Knife River |
| Calamos ETF vs. Dimensional ETF Trust | Calamos ETF vs. Vanguard Small Cap Index | Calamos ETF vs. First Trust Multi Manager | Calamos ETF vs. Vanguard SP Small Cap |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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