Correlation Between Lord Abbett and Calamos High
Can any of the company-specific risk be diversified away by investing in both Lord Abbett 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 Lord Abbett and Calamos High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lord Abbett Government and Calamos High Income, you can compare the effects of market volatilities on Lord Abbett 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 Lord Abbett with a short position of Calamos High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lord Abbett and Calamos High.
Diversification Opportunities for Lord Abbett and Calamos High
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lord and Calamos is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Government 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 Lord Abbett 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 Lord Abbett Government 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 Lord Abbett i.e., Lord Abbett and Calamos High go up and down completely randomly.
Pair Corralation between Lord Abbett and Calamos High
If you would invest 781.00 in Calamos High Income on August 29, 2024 and sell it today you would earn a total of 7.00 from holding Calamos High Income or generate 0.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Lord Abbett Government vs. Calamos High Income
Performance |
| Timeline |
| Lord Abbett Government |
| Calamos High Income |
Lord Abbett and Calamos High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lord Abbett and Calamos High
The main advantage of trading using opposite Lord Abbett and Calamos High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lord Abbett 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.| Lord Abbett vs. Neuberger Berman High | Lord Abbett vs. HUMANA INC | Lord Abbett vs. Aquagold International | Lord Abbett vs. Barloworld Ltd ADR |
| Calamos High vs. Prudential Government Income | Calamos High vs. Government Securities Fund | Calamos High vs. Dunham Porategovernment Bond | Calamos High vs. Short Term Government 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |