Correlation Between Calamos Dynamic and Strategic Asset
Can any of the company-specific risk be diversified away by investing in both Calamos Dynamic and Strategic Asset 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 Strategic Asset 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 Strategic Asset Management, you can compare the effects of market volatilities on Calamos Dynamic and Strategic Asset 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 Strategic Asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dynamic and Strategic Asset.
Diversification Opportunities for Calamos Dynamic and Strategic Asset
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Calamos and Strategic is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and Strategic Asset Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Strategic Asset Mana 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 Strategic Asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Strategic Asset Mana has no effect on the direction of Calamos Dynamic i.e., Calamos Dynamic and Strategic Asset go up and down completely randomly.
Pair Corralation between Calamos Dynamic and Strategic Asset
Considering the 90-day investment horizon Calamos Dynamic Convertible is expected to generate 1.84 times more return on investment than Strategic Asset. However, Calamos Dynamic is 1.84 times more volatile than Strategic Asset Management. It trades about 0.16 of its potential returns per unit of risk. Strategic Asset Management is currently generating about 0.25 per unit of risk. If you would invest 1,952 in Calamos Dynamic Convertible on June 1, 2025 and sell it today you would earn a total of 102.00 from holding Calamos Dynamic Convertible or generate 5.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Dynamic Convertible vs. Strategic Asset Management
Performance |
| Timeline |
| Calamos Dynamic Conv |
| Strategic Asset Mana |
Calamos Dynamic and Strategic Asset Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Dynamic and Strategic Asset
The main advantage of trading using opposite Calamos Dynamic and Strategic Asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dynamic position performs unexpectedly, Strategic Asset 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 Strategic Asset will offset losses from the drop in Strategic Asset'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 |
| Strategic Asset vs. Multimanager Lifestyle Moderate | Strategic Asset vs. Tiaa Cref Lifestyle Moderate | Strategic Asset vs. Moderate Balanced Allocation | Strategic Asset vs. Blackrock Moderate Prepared |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Other Complementary Tools
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |