Correlation Between Calamos Dynamic and Dunham Real
Can any of the company-specific risk be diversified away by investing in both Calamos Dynamic and Dunham Real 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 Dunham Real 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 Dunham Real Estate, you can compare the effects of market volatilities on Calamos Dynamic and Dunham Real 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 Dunham Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dynamic and Dunham Real.
Diversification Opportunities for Calamos Dynamic and Dunham Real
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Calamos and Dunham is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and Dunham Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dunham Real Estate 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 Dunham Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dunham Real Estate has no effect on the direction of Calamos Dynamic i.e., Calamos Dynamic and Dunham Real go up and down completely randomly.
Pair Corralation between Calamos Dynamic and Dunham Real
Considering the 90-day investment horizon Calamos Dynamic Convertible is expected to under-perform the Dunham Real. But the fund apears to be less risky and, when comparing its historical volatility, Calamos Dynamic Convertible is 1.02 times less risky than Dunham Real. The fund trades about -0.06 of its potential returns per unit of risk. The Dunham Real Estate is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,322 in Dunham Real Estate on March 29, 2025 and sell it today you would earn a total of 27.00 from holding Dunham Real Estate or generate 2.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.39% |
| Values | Daily Returns |
Calamos Dynamic Convertible vs. Dunham Real Estate
Performance |
| Timeline |
| Calamos Dynamic Conv |
| Dunham Real Estate |
Calamos Dynamic and Dunham Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Dynamic and Dunham Real
The main advantage of trading using opposite Calamos Dynamic and Dunham Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dynamic position performs unexpectedly, Dunham Real 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 Dunham Real will offset losses from the drop in Dunham Real's long position.| Calamos Dynamic vs. Calamos Convertible Opportunities | Calamos Dynamic vs. Calamos Global Dynamic | Calamos Dynamic vs. Calamos Strategic Total | Calamos Dynamic vs. Calamos LongShort Equity |
| Dunham Real vs. Msift High Yield | Dunham Real vs. Siit High Yield | Dunham Real vs. Janus High Yield Fund | Dunham Real vs. Guggenheim High Yield |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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