Correlation Between Walker Dunlop and Calamos Growth
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and Calamos Growth 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 Growth 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 Growth Income, you can compare the effects of market volatilities on Walker Dunlop and Calamos Growth 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 Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Calamos Growth.
Diversification Opportunities for Walker Dunlop and Calamos Growth
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Walker and Calamos is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Calamos Growth Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Growth Income 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 Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Growth Income has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Calamos Growth go up and down completely randomly.
Pair Corralation between Walker Dunlop and Calamos Growth
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Calamos Growth. In addition to that, Walker Dunlop is 2.57 times more volatile than Calamos Growth Income. It trades about -0.02 of its total potential returns per unit of risk. Calamos Growth Income is currently generating about 0.16 per unit of volatility. If you would invest 4,940 in Calamos Growth Income on August 29, 2024 and sell it today you would earn a total of 221.00 from holding Calamos Growth Income or generate 4.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Calamos Growth Income
Performance |
| Timeline |
| Walker Dunlop |
| Calamos Growth Income |
Walker Dunlop and Calamos Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Calamos Growth
The main advantage of trading using opposite Walker Dunlop and Calamos Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Calamos Growth 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 Growth will offset losses from the drop in Calamos Growth'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 Growth vs. Calamos Growth Fund | Calamos Growth vs. Davis New York | Calamos Growth vs. First Eagle Global | Calamos Growth vs. Calamos Vertible Fund |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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