Correlation Between Calamos Dynamic and Gmo Global
Can any of the company-specific risk be diversified away by investing in both Calamos Dynamic and Gmo 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 Gmo 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 Gmo Global Equity, you can compare the effects of market volatilities on Calamos Dynamic and Gmo 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 Gmo Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dynamic and Gmo Global.
Diversification Opportunities for Calamos Dynamic and Gmo Global
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Calamos and Gmo is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and Gmo Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gmo 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 Gmo Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gmo Global Equity has no effect on the direction of Calamos Dynamic i.e., Calamos Dynamic and Gmo Global go up and down completely randomly.
Pair Corralation between Calamos Dynamic and Gmo Global
Considering the 90-day investment horizon Calamos Dynamic Convertible is expected to under-perform the Gmo Global. In addition to that, Calamos Dynamic is 1.19 times more volatile than Gmo Global Equity. It trades about -0.06 of its total potential returns per unit of risk. Gmo Global Equity is currently generating about 0.21 per unit of volatility. If you would invest 2,948 in Gmo Global Equity on May 2, 2025 and sell it today you would earn a total of 250.00 from holding Gmo Global Equity or generate 8.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Dynamic Convertible vs. Gmo Global Equity
Performance |
| Timeline |
| Calamos Dynamic Conv |
| Gmo Global Equity |
Calamos Dynamic and Gmo Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Dynamic and Gmo Global
The main advantage of trading using opposite Calamos Dynamic and Gmo Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dynamic position performs unexpectedly, Gmo 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 Gmo Global will offset losses from the drop in Gmo 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 |
| Gmo Global vs. Ashmore Emerging Markets | Gmo Global vs. Morningstar Defensive Bond | Gmo Global vs. Flexible Bond Portfolio | Gmo Global vs. Enhanced Fixed Income |
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.
Other Complementary Tools
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |