Correlation Between Calvert International and Astor Longshort
Can any of the company-specific risk be diversified away by investing in both Calvert International and Astor Longshort 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 International and Astor Longshort into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert International Equity and Astor Longshort Fund, you can compare the effects of market volatilities on Calvert International and Astor Longshort 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 International with a short position of Astor Longshort. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert International and Astor Longshort.
Diversification Opportunities for Calvert International and Astor Longshort
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Calvert and Astor is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Calvert International Equity and Astor Longshort Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astor Longshort and Calvert International 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 International Equity are associated (or correlated) with Astor Longshort. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astor Longshort has no effect on the direction of Calvert International i.e., Calvert International and Astor Longshort go up and down completely randomly.
Pair Corralation between Calvert International and Astor Longshort
Assuming the 90 days horizon Calvert International Equity is expected to generate 2.06 times more return on investment than Astor Longshort. However, Calvert International is 2.06 times more volatile than Astor Longshort Fund. It trades about 0.15 of its potential returns per unit of risk. Astor Longshort Fund is currently generating about 0.28 per unit of risk. If you would invest 2,540 in Calvert International Equity on April 28, 2025 and sell it today you would earn a total of 197.00 from holding Calvert International Equity or generate 7.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calvert International Equity vs. Astor Longshort Fund
Performance |
| Timeline |
| Calvert International |
| Astor Longshort |
Calvert International and Astor Longshort Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calvert International and Astor Longshort
The main advantage of trading using opposite Calvert International and Astor Longshort positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert International position performs unexpectedly, Astor Longshort 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 Astor Longshort will offset losses from the drop in Astor Longshort's long position.| Calvert International vs. Artisan Select Equity | Calvert International vs. Morningstar International Equity | Calvert International vs. Dws Equity Sector | Calvert International vs. The Growth Equity |
| Astor Longshort vs. Mesirow Financial Small | Astor Longshort vs. Fidelity Advisor Financial | Astor Longshort vs. Angel Oak Financial | Astor Longshort vs. Icon Financial Fund |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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