Correlation Between Calamos Dynamic and Calvert Global
Can any of the company-specific risk be diversified away by investing in both Calamos Dynamic 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 Calamos Dynamic and Calvert Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Dynamic Convertible and Calvert Global Equity, you can compare the effects of market volatilities on Calamos Dynamic 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 Calamos Dynamic with a short position of Calvert Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dynamic and Calvert Global.
Diversification Opportunities for Calamos Dynamic and Calvert Global
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Calamos and Calvert is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible 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 Calamos Dynamic 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 Calamos Dynamic Convertible 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 Calamos Dynamic i.e., Calamos Dynamic and Calvert Global go up and down completely randomly.
Pair Corralation between Calamos Dynamic and Calvert Global
Considering the 90-day investment horizon Calamos Dynamic Convertible is expected to under-perform the Calvert Global. In addition to that, Calamos Dynamic is 1.1 times more volatile than Calvert Global Equity. It trades about -0.04 of its total potential returns per unit of risk. Calvert Global Equity is currently generating about 0.04 per unit of volatility. If you would invest 1,691 in Calvert Global Equity on May 1, 2025 and sell it today you would earn a total of 156.00 from holding Calvert Global Equity or generate 9.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Dynamic Convertible vs. Calvert Global Equity
Performance |
| Timeline |
| Calamos Dynamic Conv |
| Calvert Global Equity |
Calamos Dynamic and Calvert Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Dynamic and Calvert Global
The main advantage of trading using opposite Calamos Dynamic and Calvert Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dynamic 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.| Calamos Dynamic vs. Calamos Convertible And | Calamos Dynamic vs. Calamos Global Dynamic | Calamos Dynamic vs. Calamos Convertible Opportunities | Calamos Dynamic vs. Calamos LongShort Equity |
| Calvert Global vs. Tax Managed Mid Small | Calvert Global vs. Rbc Emerging Markets | Calvert Global vs. Omni Small Cap Value | Calvert Global vs. T Rowe Price |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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