Correlation Between Loomis Sayles and Calvert Global
Can any of the company-specific risk be diversified away by investing in both Loomis Sayles and Calvert 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 Calvert Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Loomis Sayles Institutional and Calvert Global Energy, you can compare the effects of market volatilities on Loomis Sayles and Calvert 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 Calvert Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and Calvert Global.
Diversification Opportunities for Loomis Sayles and Calvert Global
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Loomis and Calvert is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles Institutional and Calvert Global Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert Global Energy 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 Institutional are associated (or correlated) with Calvert Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert Global Energy has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and Calvert Global go up and down completely randomly.
Pair Corralation between Loomis Sayles and Calvert Global
Assuming the 90 days horizon Loomis Sayles Institutional is expected to generate 0.28 times more return on investment than Calvert Global. However, Loomis Sayles Institutional is 3.54 times less risky than Calvert Global. It trades about 0.12 of its potential returns per unit of risk. Calvert Global Energy is currently generating about 0.0 per unit of risk. If you would invest 502.00 in Loomis Sayles Institutional on August 30, 2024 and sell it today you would earn a total of 99.00 from holding Loomis Sayles Institutional or generate 19.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loomis Sayles Institutional vs. Calvert Global Energy
Performance |
| Timeline |
| Loomis Sayles Instit |
| Calvert Global Energy |
Loomis Sayles and Calvert Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loomis Sayles and Calvert Global
The main advantage of trading using opposite Loomis Sayles and Calvert Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, Calvert 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 Calvert Global will offset losses from the drop in Calvert Global's long position.| Loomis Sayles vs. Jhancock Short Duration | Loomis Sayles vs. Quantitative Longshort Equity | Loomis Sayles vs. Ab Select Longshort | Loomis Sayles vs. Vanguard Short Term Federal |
| Calvert Global vs. Firsthand Alternative Energy | Calvert Global vs. Portfolio 21 Global | Calvert Global vs. HUMANA INC | Calvert Global vs. Aquagold International |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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