Correlation Between Innealta Capital and Calamos Global
Can any of the company-specific risk be diversified away by investing in both Innealta Capital 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 Innealta Capital and Calamos Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Innealta Capital Sector and Calamos Global Equity, you can compare the effects of market volatilities on Innealta Capital 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 Innealta Capital with a short position of Calamos Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Innealta Capital and Calamos Global.
Diversification Opportunities for Innealta Capital and Calamos Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Innealta and Calamos is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Innealta Capital Sector and Calamos Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Global Equity and Innealta Capital 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 Innealta Capital Sector 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 Equity has no effect on the direction of Innealta Capital i.e., Innealta Capital and Calamos Global go up and down completely randomly.
Pair Corralation between Innealta Capital and Calamos Global
Assuming the 90 days horizon Innealta Capital is expected to generate 9.12 times less return on investment than Calamos Global. But when comparing it to its historical volatility, Innealta Capital Sector is 1.07 times less risky than Calamos Global. It trades about 0.1 of its potential returns per unit of risk. Calamos Global Equity is currently generating about 0.81 of returns per unit of risk over similar time horizon. If you would invest 1,760 in Calamos Global Equity on November 9, 2024 and sell it today you would earn a total of 46.00 from holding Calamos Global Equity or generate 2.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.67% |
| Values | Daily Returns |
Innealta Capital Sector vs. Calamos Global Equity
Performance |
| Timeline |
| Innealta Capital Sector |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Calamos Global Equity |
Risk-Adjusted Performance
Market Crasher
Weak | Strong |
Innealta Capital and Calamos Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Innealta Capital and Calamos Global
The main advantage of trading using opposite Innealta Capital and Calamos Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Innealta Capital 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.| Innealta Capital vs. Lifestyle Ii Moderate | Innealta Capital vs. Putnman Retirement Ready | Innealta Capital vs. Columbia Moderate Growth | Innealta Capital vs. College Retirement Equities |
| Calamos Global vs. The Hartford High | Calamos Global vs. Rbc Bluebay Global | Calamos Global vs. Aqr Risk Parity | Calamos Global 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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