Correlation Between Calvert Emerging and Huber Capital
Can any of the company-specific risk be diversified away by investing in both Calvert Emerging and Huber Capital 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 Emerging and Huber Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calvert Emerging Markets and Huber Capital Small, you can compare the effects of market volatilities on Calvert Emerging and Huber Capital 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 Emerging with a short position of Huber Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calvert Emerging and Huber Capital.
Diversification Opportunities for Calvert Emerging and Huber Capital
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Calvert and Huber is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Emerging Markets and Huber Capital Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huber Capital Small and Calvert Emerging 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 Emerging Markets are associated (or correlated) with Huber Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huber Capital Small has no effect on the direction of Calvert Emerging i.e., Calvert Emerging and Huber Capital go up and down completely randomly.
Pair Corralation between Calvert Emerging and Huber Capital
Assuming the 90 days horizon Calvert Emerging is expected to generate 1.86 times less return on investment than Huber Capital. But when comparing it to its historical volatility, Calvert Emerging Markets is 1.66 times less risky than Huber Capital. It trades about 0.21 of its potential returns per unit of risk. Huber Capital Small is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 2,295 in Huber Capital Small on April 18, 2025 and sell it today you would earn a total of 420.00 from holding Huber Capital Small or generate 18.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.36% |
| Values | Daily Returns |
Calvert Emerging Markets vs. Huber Capital Small
Performance |
| Timeline |
| Calvert Emerging Markets |
| Huber Capital Small |
Calvert Emerging and Huber Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calvert Emerging and Huber Capital
The main advantage of trading using opposite Calvert Emerging and Huber Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calvert Emerging position performs unexpectedly, Huber Capital 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 Huber Capital will offset losses from the drop in Huber Capital's long position.| Calvert Emerging vs. Calamos Dynamic Convertible | Calvert Emerging vs. Rationalpier 88 Convertible | Calvert Emerging vs. Columbia Convertible Securities | Calvert Emerging vs. Fidelity Sai Convertible |
| Huber Capital vs. Vy Blackrock Inflation | Huber Capital vs. Blackrock Inflation Protected | Huber Capital vs. Ab Bond Inflation | Huber Capital vs. Great West Inflation Protected Securities |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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