Correlation Between Walker Dunlop and Calamos Total
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and Calamos Total 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 Walker Dunlop and Calamos Total into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and Calamos Total Return, you can compare the effects of market volatilities on Walker Dunlop and Calamos Total 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 Walker Dunlop with a short position of Calamos Total. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Calamos Total.
Diversification Opportunities for Walker Dunlop and Calamos Total
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Walker and Calamos is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Calamos Total Return in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Total Return and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with Calamos Total. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Total Return has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Calamos Total go up and down completely randomly.
Pair Corralation between Walker Dunlop and Calamos Total
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Calamos Total. In addition to that, Walker Dunlop is 4.25 times more volatile than Calamos Total Return. It trades about -0.01 of its total potential returns per unit of risk. Calamos Total Return is currently generating about 0.05 per unit of volatility. If you would invest 894.00 in Calamos Total Return on August 29, 2024 and sell it today you would earn a total of 4.00 from holding Calamos Total Return or generate 0.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Calamos Total Return
Performance |
| Timeline |
| Walker Dunlop |
| Calamos Total Return |
Walker Dunlop and Calamos Total Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Calamos Total
The main advantage of trading using opposite Walker Dunlop and Calamos Total positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Calamos Total 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 Total will offset losses from the drop in Calamos Total's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| Calamos Total vs. Goldman Sachs Mlp | Calamos Total vs. Clearbridge Energy Mlp | Calamos Total vs. Ivy Natural Resources | Calamos Total vs. Dreyfus Natural Resources |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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