Correlation Between Astor Long/short and Calvert Global
Can any of the company-specific risk be diversified away by investing in both Astor Long/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 Astor Long/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 Astor Longshort Fund and Calvert Global Equity, you can compare the effects of market volatilities on Astor Long/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 Astor Long/short with a short position of Calvert Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astor Long/short and Calvert Global.
Diversification Opportunities for Astor Long/short and Calvert Global
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Astor and Calvert is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Astor Longshort Fund 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 Astor Long/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 Astor Longshort Fund 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 Astor Long/short i.e., Astor Long/short and Calvert Global go up and down completely randomly.
Pair Corralation between Astor Long/short and Calvert Global
Assuming the 90 days horizon Astor Longshort Fund is expected to generate 0.5 times more return on investment than Calvert Global. However, Astor Longshort Fund is 2.01 times less risky than Calvert Global. It trades about 0.23 of its potential returns per unit of risk. Calvert Global Equity is currently generating about 0.08 per unit of risk. If you would invest 1,275 in Astor Longshort Fund on June 4, 2025 and sell it today you would earn a total of 61.00 from holding Astor Longshort Fund or generate 4.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Astor Longshort Fund vs. Calvert Global Equity
Performance |
| Timeline |
| Astor Long/short |
| Calvert Global Equity |
Astor Long/short and Calvert Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astor Long/short and Calvert Global
The main advantage of trading using opposite Astor Long/short and Calvert Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astor Long/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.| Astor Long/short vs. Guidepath Conservative Income | Astor Long/short vs. Calvert Conservative Allocation | Astor Long/short vs. American Funds Conservative | Astor Long/short vs. Aqr Diversified Arbitrage |
| Calvert Global vs. Vanguard Large Cap Index | Calvert Global vs. Qs Large Cap | Calvert Global vs. Legg Mason Bw | Calvert Global vs. Prudential Qma Large Cap |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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