Correlation Between M Large and Calamos Growth
Can any of the company-specific risk be diversified away by investing in both M Large and Calamos Growth 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 M Large and Calamos Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between M Large Cap and Calamos Growth Fund, you can compare the effects of market volatilities on M Large and Calamos Growth 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 M Large with a short position of Calamos Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of M Large and Calamos Growth.
Diversification Opportunities for M Large and Calamos Growth
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between MTCGX and Calamos is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding M Large Cap and Calamos Growth Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Growth and M Large 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 M Large Cap are associated (or correlated) with Calamos Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Growth has no effect on the direction of M Large i.e., M Large and Calamos Growth go up and down completely randomly.
Pair Corralation between M Large and Calamos Growth
If you would invest 931.00 in Calamos Growth Fund on October 17, 2024 and sell it today you would earn a total of 0.00 from holding Calamos Growth Fund or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 65.79% |
| Values | Daily Returns |
M Large Cap vs. Calamos Growth Fund
Performance |
| Timeline |
| M Large Cap |
| Calamos Growth |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
M Large and Calamos Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with M Large and Calamos Growth
The main advantage of trading using opposite M Large and Calamos Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if M Large position performs unexpectedly, Calamos Growth 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 Growth will offset losses from the drop in Calamos Growth's long position.| M Large vs. Volumetric Fund Volumetric | M Large vs. Small Pany Growth | M Large vs. Semiconductor Ultrasector Profund | M Large vs. Rbb Fund |
| Calamos Growth vs. M Large Cap | Calamos Growth vs. Fisher Large Cap | Calamos Growth vs. Qs Large Cap | Calamos Growth vs. Tax Managed Large Cap |
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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