Correlation Between Kinetics Global and Calamos High
Can any of the company-specific risk be diversified away by investing in both Kinetics Global and Calamos High 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 Kinetics Global and Calamos High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kinetics Global Fund and Calamos High Income, you can compare the effects of market volatilities on Kinetics Global and Calamos High 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 Kinetics Global with a short position of Calamos High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kinetics Global and Calamos High.
Diversification Opportunities for Kinetics Global and Calamos High
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kinetics and Calamos is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kinetics Global Fund and Calamos High Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos High Income and Kinetics Global 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 Kinetics Global Fund are associated (or correlated) with Calamos High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos High Income has no effect on the direction of Kinetics Global i.e., Kinetics Global and Calamos High go up and down completely randomly.
Pair Corralation between Kinetics Global and Calamos High
If you would invest 1,107 in Kinetics Global Fund on October 7, 2024 and sell it today you would earn a total of 414.00 from holding Kinetics Global Fund or generate 37.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Kinetics Global Fund vs. Calamos High Income
Performance |
| Timeline |
| Kinetics Global |
| Calamos High Income |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Kinetics Global and Calamos High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kinetics Global and Calamos High
The main advantage of trading using opposite Kinetics Global and Calamos High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kinetics Global position performs unexpectedly, Calamos High 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 High will offset losses from the drop in Calamos High's long position.| Kinetics Global vs. Mid Cap 15x Strategy | Kinetics Global vs. Realestaterealreturn Strategy Fund | Kinetics Global vs. Eagle Mlp Strategy | Kinetics Global vs. Wcm Focused Emerging |
| Calamos High vs. Inverse Emerging Markets | Calamos High vs. Kinetics Market Opportunities | Calamos High vs. Aqr Sustainable Long Short | Calamos High vs. Locorr Market Trend |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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