Correlation Between WisdomTree BioRevolution and Calamos Bitcoin
Can any of the company-specific risk be diversified away by investing in both WisdomTree BioRevolution and Calamos Bitcoin 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 WisdomTree BioRevolution and Calamos Bitcoin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WisdomTree BioRevolution and Calamos Bitcoin 80, you can compare the effects of market volatilities on WisdomTree BioRevolution and Calamos Bitcoin 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 WisdomTree BioRevolution with a short position of Calamos Bitcoin. Check out your portfolio center. Please also check ongoing floating volatility patterns of WisdomTree BioRevolution and Calamos Bitcoin.
Diversification Opportunities for WisdomTree BioRevolution and Calamos Bitcoin
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between WisdomTree and Calamos is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree BioRevolution and Calamos Bitcoin 80 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Bitcoin 80 and WisdomTree BioRevolution 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 WisdomTree BioRevolution are associated (or correlated) with Calamos Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Bitcoin 80 has no effect on the direction of WisdomTree BioRevolution i.e., WisdomTree BioRevolution and Calamos Bitcoin go up and down completely randomly.
Pair Corralation between WisdomTree BioRevolution and Calamos Bitcoin
Given the investment horizon of 90 days WisdomTree BioRevolution is expected to generate 1.51 times more return on investment than Calamos Bitcoin. However, WisdomTree BioRevolution is 1.51 times more volatile than Calamos Bitcoin 80. It trades about 0.13 of its potential returns per unit of risk. Calamos Bitcoin 80 is currently generating about -0.16 per unit of risk. If you would invest 1,584 in WisdomTree BioRevolution on November 18, 2025 and sell it today you would earn a total of 188.30 from holding WisdomTree BioRevolution or generate 11.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.39% |
| Values | Daily Returns |
WisdomTree BioRevolution vs. Calamos Bitcoin 80
Performance |
| Timeline |
| WisdomTree BioRevolution |
| Calamos Bitcoin 80 |
WisdomTree BioRevolution and Calamos Bitcoin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WisdomTree BioRevolution and Calamos Bitcoin
The main advantage of trading using opposite WisdomTree BioRevolution and Calamos Bitcoin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WisdomTree BioRevolution position performs unexpectedly, Calamos Bitcoin 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 Bitcoin will offset losses from the drop in Calamos Bitcoin's long position.| WisdomTree BioRevolution vs. Global X SP | WisdomTree BioRevolution vs. Themes Cash Flow | WisdomTree BioRevolution vs. ETF Managers Group | WisdomTree BioRevolution vs. VanEck ETF Trust |
| Calamos Bitcoin vs. CoinShares Altcoins ETF | Calamos Bitcoin vs. VanEck Avalanche ETF | Calamos Bitcoin vs. DOJE | Calamos Bitcoin vs. Grayscale Funds Trust |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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