Correlation Between Calamos Dynamic and Emerging Markets
Can any of the company-specific risk be diversified away by investing in both Calamos Dynamic and Emerging Markets 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 Emerging Markets 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 Emerging Markets Portfolio, you can compare the effects of market volatilities on Calamos Dynamic and Emerging Markets 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 Emerging Markets. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dynamic and Emerging Markets.
Diversification Opportunities for Calamos Dynamic and Emerging Markets
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Calamos and Emerging is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and Emerging Markets Portfolio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Emerging Markets Por 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 Emerging Markets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Emerging Markets Por has no effect on the direction of Calamos Dynamic i.e., Calamos Dynamic and Emerging Markets go up and down completely randomly.
Pair Corralation between Calamos Dynamic and Emerging Markets
Considering the 90-day investment horizon Calamos Dynamic is expected to generate 5.83 times less return on investment than Emerging Markets. In addition to that, Calamos Dynamic is 1.18 times more volatile than Emerging Markets Portfolio. It trades about 0.02 of its total potential returns per unit of risk. Emerging Markets Portfolio is currently generating about 0.11 per unit of volatility. If you would invest 2,161 in Emerging Markets Portfolio on June 13, 2025 and sell it today you would earn a total of 310.00 from holding Emerging Markets Portfolio or generate 14.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Dynamic Convertible vs. Emerging Markets Portfolio
Performance |
| Timeline |
| Calamos Dynamic Conv |
| Emerging Markets Por |
Calamos Dynamic and Emerging Markets Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Dynamic and Emerging Markets
The main advantage of trading using opposite Calamos Dynamic and Emerging Markets positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dynamic position performs unexpectedly, Emerging Markets 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 Emerging Markets will offset losses from the drop in Emerging Markets' 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 |
| Emerging Markets vs. Nomura Real Estate | Emerging Markets vs. Nuveen Real Estate | Emerging Markets vs. Baron Real Estate | Emerging Markets vs. Fidelity Real Estate |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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