Correlation Between Growth Strategy and Calamos Global
Can any of the company-specific risk be diversified away by investing in both Growth Strategy 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 Growth Strategy and Calamos Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Growth Strategy Fund and Calamos Global Vertible, you can compare the effects of market volatilities on Growth Strategy 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 Growth Strategy with a short position of Calamos Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Growth Strategy and Calamos Global.
Diversification Opportunities for Growth Strategy and Calamos Global
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between GROWTH and Calamos is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Growth Strategy Fund and Calamos Global Vertible in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Global Vertible and Growth Strategy 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 Growth Strategy Fund 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 Vertible has no effect on the direction of Growth Strategy i.e., Growth Strategy and Calamos Global go up and down completely randomly.
Pair Corralation between Growth Strategy and Calamos Global
Assuming the 90 days horizon Growth Strategy is expected to generate 1.22 times less return on investment than Calamos Global. In addition to that, Growth Strategy is 1.33 times more volatile than Calamos Global Vertible. It trades about 0.09 of its total potential returns per unit of risk. Calamos Global Vertible is currently generating about 0.15 per unit of volatility. If you would invest 1,143 in Calamos Global Vertible on September 3, 2024 and sell it today you would earn a total of 107.00 from holding Calamos Global Vertible or generate 9.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Growth Strategy Fund vs. Calamos Global Vertible
Performance |
| Timeline |
| Growth Strategy |
| Calamos Global Vertible |
Growth Strategy and Calamos Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Growth Strategy and Calamos Global
The main advantage of trading using opposite Growth Strategy and Calamos Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Growth Strategy 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.| Growth Strategy vs. American Funds The | Growth Strategy vs. American Funds The | Growth Strategy vs. Income Fund Of | Growth Strategy vs. Income Fund Of |
| Calamos Global vs. Growth Strategy Fund | Calamos Global vs. Small Cap Stock | Calamos Global vs. Arrow Managed Futures |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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