Correlation Between Loomis Sayles and Calamos Global
Can any of the company-specific risk be diversified away by investing in both Loomis Sayles and Calamos Global 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 Loomis Sayles and Calamos Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Loomis Sayles Inflation and Calamos Global Sustainable, you can compare the effects of market volatilities on Loomis Sayles and Calamos Global 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 Loomis Sayles with a short position of Calamos Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and Calamos Global.
Diversification Opportunities for Loomis Sayles and Calamos Global
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Loomis and Calamos is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles Inflation and Calamos Global Sustainable in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Global Susta and Loomis Sayles 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 Loomis Sayles Inflation are associated (or correlated) with Calamos Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Global Susta has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and Calamos Global go up and down completely randomly.
Pair Corralation between Loomis Sayles and Calamos Global
If you would invest 0.00 in Calamos Global Sustainable on September 22, 2024 and sell it today you would earn a total of 0.00 from holding Calamos Global Sustainable or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
Loomis Sayles Inflation vs. Calamos Global Sustainable
Performance |
| Timeline |
| Loomis Sayles Inflation |
| Calamos Global Susta |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Loomis Sayles and Calamos Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loomis Sayles and Calamos Global
The main advantage of trading using opposite Loomis Sayles and Calamos Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, Calamos Global 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 Global will offset losses from the drop in Calamos Global's long position.| Loomis Sayles vs. Loomis Sayles Bond | Loomis Sayles vs. Loomis Sayles Bond | Loomis Sayles vs. Loomis Sayles Bond | Loomis Sayles vs. Loomis Sayles Small |
| Calamos Global vs. Davis Government Bond | Calamos Global vs. Blackrock Government Bond | Calamos Global vs. Dunham Porategovernment Bond | Calamos Global vs. Lord Abbett Government |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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