Correlation Between Calamos Global and Bogle Small
Can any of the company-specific risk be diversified away by investing in both Calamos Global and Bogle Small 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 Global and Bogle Small into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Global Total and Bogle Small Cap, you can compare the effects of market volatilities on Calamos Global and Bogle Small 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 Global with a short position of Bogle Small. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Global and Bogle Small.
Diversification Opportunities for Calamos Global and Bogle Small
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Calamos and Bogle is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Global Total and Bogle Small Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bogle Small Cap and Calamos Global 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 Global Total are associated (or correlated) with Bogle Small. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bogle Small Cap has no effect on the direction of Calamos Global i.e., Calamos Global and Bogle Small go up and down completely randomly.
Pair Corralation between Calamos Global and Bogle Small
Considering the 90-day investment horizon Calamos Global Total is expected to under-perform the Bogle Small. But the fund apears to be less risky and, when comparing its historical volatility, Calamos Global Total is 1.31 times less risky than Bogle Small. The fund trades about -0.02 of its potential returns per unit of risk. The Bogle Small Cap is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 3,323 in Bogle Small Cap on September 2, 2025 and sell it today you would earn a total of 7.00 from holding Bogle Small Cap or generate 0.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Global Total vs. Bogle Small Cap
Performance |
| Timeline |
| Calamos Global Total |
| Bogle Small Cap |
Calamos Global and Bogle Small Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Global and Bogle Small
The main advantage of trading using opposite Calamos Global and Bogle Small positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Global position performs unexpectedly, Bogle Small 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 Bogle Small will offset losses from the drop in Bogle Small's long position.| Calamos Global vs. Blackrock High Income | Calamos Global vs. California High Yield Municipal | Calamos Global vs. Vanguard High Yield Tax Exempt | Calamos Global vs. Calvert Aggressive Allocation |
| Bogle Small vs. Principal Lifetime Hybrid | Bogle Small vs. Gmo Small Cap | Bogle Small vs. William Blair Small Mid | Bogle Small vs. Siit Small Cap |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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