Correlation Between Commodities Strategy and Calamos Antetokounmpo
Can any of the company-specific risk be diversified away by investing in both Commodities Strategy and Calamos Antetokounmpo 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 Commodities Strategy and Calamos Antetokounmpo into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Commodities Strategy Fund and Calamos Antetokounmpo Sustainable, you can compare the effects of market volatilities on Commodities Strategy and Calamos Antetokounmpo 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 Commodities Strategy with a short position of Calamos Antetokounmpo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Commodities Strategy and Calamos Antetokounmpo.
Diversification Opportunities for Commodities Strategy and Calamos Antetokounmpo
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Commodities and Calamos is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Commodities Strategy Fund and Calamos Antetokounmpo Sustaina in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Antetokounmpo and Commodities 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 Commodities Strategy Fund are associated (or correlated) with Calamos Antetokounmpo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Antetokounmpo has no effect on the direction of Commodities Strategy i.e., Commodities Strategy and Calamos Antetokounmpo go up and down completely randomly.
Pair Corralation between Commodities Strategy and Calamos Antetokounmpo
Assuming the 90 days horizon Commodities Strategy Fund is expected to generate 1.79 times more return on investment than Calamos Antetokounmpo. However, Commodities Strategy is 1.79 times more volatile than Calamos Antetokounmpo Sustainable. It trades about 0.19 of its potential returns per unit of risk. Calamos Antetokounmpo Sustainable is currently generating about 0.06 per unit of risk. If you would invest 2,885 in Commodities Strategy Fund on September 13, 2024 and sell it today you would earn a total of 93.00 from holding Commodities Strategy Fund or generate 3.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Commodities Strategy Fund vs. Calamos Antetokounmpo Sustaina
Performance |
| Timeline |
| Commodities Strategy |
| Calamos Antetokounmpo |
Commodities Strategy and Calamos Antetokounmpo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Commodities Strategy and Calamos Antetokounmpo
The main advantage of trading using opposite Commodities Strategy and Calamos Antetokounmpo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Commodities Strategy position performs unexpectedly, Calamos Antetokounmpo 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 Antetokounmpo will offset losses from the drop in Calamos Antetokounmpo's long position.| Commodities Strategy vs. Basic Materials Fund | Commodities Strategy vs. Energy Services Fund | Commodities Strategy vs. Energy Fund Investor | Commodities Strategy vs. Real Estate Fund |
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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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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