Correlation Between Volumetric Fund and Calamos Dividend
Can any of the company-specific risk be diversified away by investing in both Volumetric Fund and Calamos Dividend 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 Volumetric Fund and Calamos Dividend into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Volumetric Fund Volumetric and Calamos Dividend Growth, you can compare the effects of market volatilities on Volumetric Fund and Calamos Dividend 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 Volumetric Fund with a short position of Calamos Dividend. Check out your portfolio center. Please also check ongoing floating volatility patterns of Volumetric Fund and Calamos Dividend.
Diversification Opportunities for Volumetric Fund and Calamos Dividend
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Volumetric and Calamos is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Volumetric Fund Volumetric and Calamos Dividend Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Dividend Growth and Volumetric Fund 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 Volumetric Fund Volumetric are associated (or correlated) with Calamos Dividend. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Dividend Growth has no effect on the direction of Volumetric Fund i.e., Volumetric Fund and Calamos Dividend go up and down completely randomly.
Pair Corralation between Volumetric Fund and Calamos Dividend
Assuming the 90 days horizon Volumetric Fund is expected to generate 2.22 times less return on investment than Calamos Dividend. But when comparing it to its historical volatility, Volumetric Fund Volumetric is 1.01 times less risky than Calamos Dividend. It trades about 0.05 of its potential returns per unit of risk. Calamos Dividend Growth is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 1,269 in Calamos Dividend Growth on September 12, 2024 and sell it today you would earn a total of 730.00 from holding Calamos Dividend Growth or generate 57.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 99.8% |
| Values | Daily Returns |
Volumetric Fund Volumetric vs. Calamos Dividend Growth
Performance |
| Timeline |
| Volumetric Fund Volu |
| Calamos Dividend Growth |
Volumetric Fund and Calamos Dividend Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Volumetric Fund and Calamos Dividend
The main advantage of trading using opposite Volumetric Fund and Calamos Dividend positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Volumetric Fund position performs unexpectedly, Calamos Dividend 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 Dividend will offset losses from the drop in Calamos Dividend's long position.| Volumetric Fund vs. Jpmorgan High Yield | Volumetric Fund vs. Guggenheim High Yield | Volumetric Fund vs. Voya High Yield | Volumetric Fund vs. Pax High Yield |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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