Correlation Between Us Real and Calamos International
Can any of the company-specific risk be diversified away by investing in both Us Real and Calamos International 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 Us Real and Calamos International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Us Real Estate and Calamos International Growth, you can compare the effects of market volatilities on Us Real and Calamos International 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 Us Real with a short position of Calamos International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Us Real and Calamos International.
Diversification Opportunities for Us Real and Calamos International
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between MSURX and Calamos is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Us Real Estate and Calamos International Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos International and Us Real 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 Us Real Estate are associated (or correlated) with Calamos International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos International has no effect on the direction of Us Real i.e., Us Real and Calamos International go up and down completely randomly.
Pair Corralation between Us Real and Calamos International
If you would invest 2,332 in Calamos International Growth on September 4, 2024 and sell it today you would earn a total of 40.00 from holding Calamos International Growth or generate 1.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 80.0% |
| Values | Daily Returns |
Us Real Estate vs. Calamos International Growth
Performance |
| Timeline |
| Us Real Estate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
| Calamos International |
Us Real and Calamos International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Us Real and Calamos International
The main advantage of trading using opposite Us Real and Calamos International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Us Real position performs unexpectedly, Calamos International 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 International will offset losses from the drop in Calamos International's long position.| Us Real vs. Federated Mdt Large | Us Real vs. Qs Large Cap | Us Real vs. T Rowe Price | Us Real vs. Nationwide Global Equity |
| Calamos International vs. Commonwealth Real Estate | Calamos International vs. Columbia Real Estate | Calamos International vs. Pender Real Estate | Calamos International vs. Deutsche Real Estate |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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