Correlation Between Aamhimco Short and Calvert Global
Can any of the company-specific risk be diversified away by investing in both Aamhimco Short and Calvert Global 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 Aamhimco Short and Calvert Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aamhimco Short Duration and Calvert Global Equity, you can compare the effects of market volatilities on Aamhimco Short and Calvert Global 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 Aamhimco Short with a short position of Calvert Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aamhimco Short and Calvert Global.
Diversification Opportunities for Aamhimco Short and Calvert Global
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Aamhimco and Calvert is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Aamhimco Short Duration and Calvert Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert Global Equity and Aamhimco Short 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 Aamhimco Short Duration are associated (or correlated) with Calvert Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert Global Equity has no effect on the direction of Aamhimco Short i.e., Aamhimco Short and Calvert Global go up and down completely randomly.
Pair Corralation between Aamhimco Short and Calvert Global
Assuming the 90 days horizon Aamhimco Short is expected to generate 12.67 times less return on investment than Calvert Global. But when comparing it to its historical volatility, Aamhimco Short Duration is 8.31 times less risky than Calvert Global. It trades about 0.2 of its potential returns per unit of risk. Calvert Global Equity is currently generating about 0.31 of returns per unit of risk over similar time horizon. If you would invest 1,610 in Calvert Global Equity on April 29, 2025 and sell it today you would earn a total of 237.00 from holding Calvert Global Equity or generate 14.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aamhimco Short Duration vs. Calvert Global Equity
Performance |
| Timeline |
| Aamhimco Short Duration |
| Calvert Global Equity |
Aamhimco Short and Calvert Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aamhimco Short and Calvert Global
The main advantage of trading using opposite Aamhimco Short and Calvert Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aamhimco Short position performs unexpectedly, Calvert Global 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 Calvert Global will offset losses from the drop in Calvert Global's long position.| Aamhimco Short vs. Columbia Diversified Equity | Aamhimco Short vs. Lord Abbett Diversified | Aamhimco Short vs. Adams Diversified Equity | Aamhimco Short vs. Wells Fargo Diversified |
| Calvert Global vs. Icon Financial Fund | Calvert Global vs. Davis Financial Fund | Calvert Global vs. Financials Ultrasector Profund | Calvert Global vs. John Hancock Financial |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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