Correlation Between Calvert Floating and Calvert International
Can any of the company-specific risk be diversified away by investing in both Calvert Floating and Calvert International 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 Calvert Floating and Calvert International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert Floating Rate Advantage and Calvert International Equity, you can compare the effects of market volatilities on Calvert Floating and Calvert International 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 Calvert Floating with a short position of Calvert International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert Floating and Calvert International.
Diversification Opportunities for Calvert Floating and Calvert International
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Calvert and Calvert is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Floating Rate Advantag and Calvert International Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert International and Calvert Floating 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 Calvert Floating Rate Advantage are associated (or correlated) with Calvert International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert International has no effect on the direction of Calvert Floating i.e., Calvert Floating and Calvert International go up and down completely randomly.
Pair Corralation between Calvert Floating and Calvert International
Assuming the 90 days horizon Calvert Floating is expected to generate 1.31 times less return on investment than Calvert International. But when comparing it to its historical volatility, Calvert Floating Rate Advantage is 5.21 times less risky than Calvert International. It trades about 0.16 of its potential returns per unit of risk. Calvert International Equity is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 1,795 in Calvert International Equity on April 28, 2025 and sell it today you would earn a total of 324.00 from holding Calvert International Equity or generate 18.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calvert Floating Rate Advantag vs. Calvert International Equity
Performance |
| Timeline |
| Calvert Floating Rate |
| Calvert International |
Calvert Floating and Calvert International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calvert Floating and Calvert International
The main advantage of trading using opposite Calvert Floating and Calvert International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert Floating position performs unexpectedly, Calvert International 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 International will offset losses from the drop in Calvert International's long position.| Calvert Floating vs. Vanguard Financials Index | Calvert Floating vs. Angel Oak Financial | Calvert Floating vs. John Hancock Financial | Calvert Floating vs. Fidelity Advisor Financial |
| Calvert International vs. John Hancock Financial | Calvert International vs. Putnam Global Financials | Calvert International vs. Fidelity Advisor Financial | Calvert International vs. Rmb Mendon Financial |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes |