Correlation Between IShares MSCI and Calamos Antetokounmpo
Can any of the company-specific risk be diversified away by investing in both IShares MSCI 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 IShares MSCI and Calamos Antetokounmpo into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between iShares MSCI World and Calamos Antetokounmpo Global, you can compare the effects of market volatilities on IShares MSCI 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 IShares MSCI with a short position of Calamos Antetokounmpo. Check out your portfolio center. Please also check ongoing floating volatility patterns of IShares MSCI and Calamos Antetokounmpo.
Diversification Opportunities for IShares MSCI and Calamos Antetokounmpo
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between IShares and Calamos is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding iShares MSCI World and Calamos Antetokounmpo Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Antetokounmpo and IShares MSCI 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 iShares MSCI World 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 IShares MSCI i.e., IShares MSCI and Calamos Antetokounmpo go up and down completely randomly.
Pair Corralation between IShares MSCI and Calamos Antetokounmpo
Given the investment horizon of 90 days iShares MSCI World is expected to generate 1.02 times more return on investment than Calamos Antetokounmpo. However, IShares MSCI is 1.02 times more volatile than Calamos Antetokounmpo Global. It trades about 0.09 of its potential returns per unit of risk. Calamos Antetokounmpo Global is currently generating about 0.06 per unit of risk. If you would invest 11,443 in iShares MSCI World on October 23, 2024 and sell it today you would earn a total of 4,397 from holding iShares MSCI World or generate 38.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.39% |
| Values | Daily Returns |
iShares MSCI World vs. Calamos Antetokounmpo Global
Performance |
| Timeline |
| iShares MSCI World |
| Calamos Antetokounmpo |
IShares MSCI and Calamos Antetokounmpo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IShares MSCI and Calamos Antetokounmpo
The main advantage of trading using opposite IShares MSCI and Calamos Antetokounmpo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IShares MSCI 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.| IShares MSCI vs. Freedom Day Dividend | IShares MSCI vs. iShares MSCI China | IShares MSCI vs. SmartETFs Dividend Builder | IShares MSCI vs. Tidal ETF Trust |
| Calamos Antetokounmpo vs. Calamos Antetokounmpo Sustainable | Calamos Antetokounmpo vs. Rbb Fund | Calamos Antetokounmpo vs. Ab Tax Aware Short | Calamos Antetokounmpo vs. US Treasury 20 |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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