Correlation Between Auer Growth and Calvert Global
Can any of the company-specific risk be diversified away by investing in both Auer Growth 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 Auer Growth and Calvert Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Auer Growth Fund and Calvert Global Equity, you can compare the effects of market volatilities on Auer Growth 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 Auer Growth with a short position of Calvert Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Auer Growth and Calvert Global.
Diversification Opportunities for Auer Growth and Calvert Global
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Auer and Calvert is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Auer Growth 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 Auer Growth 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 Auer Growth 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 Auer Growth i.e., Auer Growth and Calvert Global go up and down completely randomly.
Pair Corralation between Auer Growth and Calvert Global
Assuming the 90 days horizon Auer Growth Fund is expected to generate 1.09 times more return on investment than Calvert Global. However, Auer Growth is 1.09 times more volatile than Calvert Global Equity. It trades about 0.21 of its potential returns per unit of risk. Calvert Global Equity is currently generating about 0.2 per unit of risk. If you would invest 1,273 in Auer Growth Fund on May 2, 2025 and sell it today you would earn a total of 132.00 from holding Auer Growth Fund or generate 10.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Auer Growth Fund vs. Calvert Global Equity
Performance |
| Timeline |
| Auer Growth Fund |
| Calvert Global Equity |
Auer Growth and Calvert Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Auer Growth and Calvert Global
The main advantage of trading using opposite Auer Growth and Calvert Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Auer Growth 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.| Auer Growth vs. Lebenthal Lisanti Small | Auer Growth vs. Hodges Small Cap | Auer Growth vs. Oberweis Small Cap Opportunities |
| Calvert Global vs. Fidelity Capital Income | Calvert Global vs. Barings High Yield | Calvert Global vs. Dunham High Yield | Calvert Global vs. Lord Abbett Short |
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 Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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