Calvert Floating-rate Correlations

Mutual Funds . USA . 
Fund . Calvert Floating Rate Advantage
CFOAX Fund  USD 8.79  0.01  0.11%   
The current 90-days correlation between Calvert Floating Rate and Qs Growth Fund is 0.33 (i.e., Weak diversification). The correlation of Calvert Floating-rate is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Calvert Floating-rate Correlation With Market

Average diversification

The correlation between Calvert Floating Rate Advantag and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Floating Rate Advantag and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Calvert Floating Rate Advantage. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Calvert Mutual Fund

  0.97OOSYX Oppenheimer SeniorPairCorr
  1.0OOSIX Oppenheimer SeniorPairCorr
  0.99LFRIX Floating RatePairCorr
  0.99LARCX Floating RatePairCorr
  0.99LFRRX Lord Abbett InvPairCorr
  0.99LFRFX Floating RatePairCorr
  0.99LRRRX Floating RatePairCorr
  0.99LRRTX Floating RatePairCorr
  0.99LRRVX Floating RatePairCorr
  1.0LRRKX Floating RatePairCorr
  0.95PFN Pimco Income StrategyPairCorr
  0.94CIF Mfs Intermediate HighPairCorr
  0.93PCF Putnam High IncomePairCorr
  0.62AXP American Express Earnings Call This WeekPairCorr
  0.95BA BoeingPairCorr
  0.68DIS Walt DisneyPairCorr
  0.68CSCO Cisco SystemsPairCorr
  0.62IBM International BusinessPairCorr
  0.61BAC Bank of America Earnings Call This WeekPairCorr
  0.66MSFT MicrosoftPairCorr
  0.67CVX Chevron CorpPairCorr
  0.61GE GE AerospacePairCorr

Moving against Calvert Mutual Fund

  0.51XNBHX Neuberger Berman IntPairCorr
  0.36XDSMX Dreyfus StrategicPairCorr
  0.63MCD McDonaldsPairCorr
  0.54KO Coca Cola Earnings Call Next WeekPairCorr
  0.42PG Procter GamblePairCorr
  0.32VZ Verizon Communications Earnings Call Next WeekPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Calvert Mutual Fund performing well and Calvert Floating-rate Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Calvert Floating-rate's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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