Correlation Between Sa Real and Calamos Opportunistic
Can any of the company-specific risk be diversified away by investing in both Sa Real and Calamos Opportunistic 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 Sa Real and Calamos Opportunistic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sa Real Estate and Calamos Opportunistic Value, you can compare the effects of market volatilities on Sa Real and Calamos Opportunistic 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 Sa Real with a short position of Calamos Opportunistic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sa Real and Calamos Opportunistic.
Diversification Opportunities for Sa Real and Calamos Opportunistic
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between SAREX and Calamos is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Sa Real Estate and Calamos Opportunistic Value in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Opportunistic and Sa 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 Sa Real Estate are associated (or correlated) with Calamos Opportunistic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Opportunistic has no effect on the direction of Sa Real i.e., Sa Real and Calamos Opportunistic go up and down completely randomly.
Pair Corralation between Sa Real and Calamos Opportunistic
Assuming the 90 days horizon Sa Real is expected to generate 1.14 times less return on investment than Calamos Opportunistic. In addition to that, Sa Real is 1.09 times more volatile than Calamos Opportunistic Value. It trades about 0.05 of its total potential returns per unit of risk. Calamos Opportunistic Value is currently generating about 0.06 per unit of volatility. If you would invest 2,008 in Calamos Opportunistic Value on November 1, 2024 and sell it today you would earn a total of 293.00 from holding Calamos Opportunistic Value or generate 14.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Sa Real Estate vs. Calamos Opportunistic Value
Performance |
| Timeline |
| Sa Real Estate |
| Calamos Opportunistic |
Sa Real and Calamos Opportunistic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sa Real and Calamos Opportunistic
The main advantage of trading using opposite Sa Real and Calamos Opportunistic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sa Real position performs unexpectedly, Calamos Opportunistic 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 Opportunistic will offset losses from the drop in Calamos Opportunistic's long position.| Sa Real vs. T Rowe Price | Sa Real vs. Arrow Dwa Balanced | Sa Real vs. Barings Active Short | Sa Real vs. Dgi Investment Trust |
| Calamos Opportunistic vs. Siit High Yield | Calamos Opportunistic vs. Multisector Bond Sma | Calamos Opportunistic vs. Doubleline Total Return | Calamos Opportunistic vs. Artisan High Income |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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