Correlation Between Upright Assets and Calamos Global
Can any of the company-specific risk be diversified away by investing in both Upright Assets 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 Upright Assets and Calamos Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Upright Assets Allocation and Calamos Global Vertible, you can compare the effects of market volatilities on Upright Assets 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 Upright Assets with a short position of Calamos Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Upright Assets and Calamos Global.
Diversification Opportunities for Upright Assets and Calamos Global
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Upright and Calamos is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Upright Assets Allocation 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 Upright Assets 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 Upright Assets Allocation 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 Upright Assets i.e., Upright Assets and Calamos Global go up and down completely randomly.
Pair Corralation between Upright Assets and Calamos Global
Assuming the 90 days horizon Upright Assets Allocation is expected to generate 4.1 times more return on investment than Calamos Global. However, Upright Assets is 4.1 times more volatile than Calamos Global Vertible. It trades about 0.05 of its potential returns per unit of risk. Calamos Global Vertible is currently generating about 0.1 per unit of risk. If you would invest 1,057 in Upright Assets Allocation on November 2, 2024 and sell it today you would earn a total of 436.00 from holding Upright Assets Allocation or generate 41.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Upright Assets Allocation vs. Calamos Global Vertible
Performance |
| Timeline |
| Upright Assets Allocation |
| Calamos Global Vertible |
Upright Assets and Calamos Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Upright Assets and Calamos Global
The main advantage of trading using opposite Upright Assets and Calamos Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Upright Assets 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.| Upright Assets vs. Short Duration Inflation | Upright Assets vs. Ab Bond Inflation | Upright Assets vs. Ab Bond Inflation | Upright Assets vs. Credit Suisse Multialternative |
| Calamos Global vs. Angel Oak Financial | Calamos Global vs. Morningstar Defensive Bond | Calamos Global vs. Rbc Bluebay Emerging | Calamos Global vs. Ab Bond Inflation |
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 Stocks Directory module to find actively traded stocks across global markets.
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