Correlation Between Calvert Global and Valic Company
Can any of the company-specific risk be diversified away by investing in both Calvert Global and Valic Company 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 Calvert Global and Valic Company into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert Global Energy and Valic Company I, you can compare the effects of market volatilities on Calvert Global and Valic Company 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 Calvert Global with a short position of Valic Company. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert Global and Valic Company.
Diversification Opportunities for Calvert Global and Valic Company
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Calvert and Valic is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Global Energy and Valic Company I in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Valic Company I and Calvert Global 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 Calvert Global Energy are associated (or correlated) with Valic Company. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Valic Company I has no effect on the direction of Calvert Global i.e., Calvert Global and Valic Company go up and down completely randomly.
Pair Corralation between Calvert Global and Valic Company
Assuming the 90 days horizon Calvert Global Energy is expected to generate 6.79 times more return on investment than Valic Company. However, Calvert Global is 6.79 times more volatile than Valic Company I. It trades about 0.2 of its potential returns per unit of risk. Valic Company I is currently generating about 0.45 per unit of risk. If you would invest 1,180 in Calvert Global Energy on June 9, 2025 and sell it today you would earn a total of 136.00 from holding Calvert Global Energy or generate 11.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calvert Global Energy vs. Valic Company I
Performance |
| Timeline |
| Calvert Global Energy |
| Valic Company I |
Calvert Global and Valic Company Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calvert Global and Valic Company
The main advantage of trading using opposite Calvert Global and Valic Company positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert Global position performs unexpectedly, Valic Company 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 Valic Company will offset losses from the drop in Valic Company's long position.| Calvert Global vs. Qs Growth Fund | Calvert Global vs. Vanguard Mega Cap | Calvert Global vs. Qs Moderate Growth | Calvert Global vs. Artisan Small Cap |
| Valic Company vs. Mid Cap Index | Valic Company vs. Mid Cap Strategic | Valic Company vs. Valic Company I | Valic Company vs. Valic Company I |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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