Correlation Between Calamos Longshort and Saat E
Can any of the company-specific risk be diversified away by investing in both Calamos Longshort and Saat E 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 Longshort and Saat E into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Longshort Fund and Saat E Market, you can compare the effects of market volatilities on Calamos Longshort and Saat E 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 Longshort with a short position of Saat E. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Longshort and Saat E.
Diversification Opportunities for Calamos Longshort and Saat E
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Calamos and Saat is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Longshort Fund and Saat E Market in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saat E Market and Calamos Longshort 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 Longshort Fund are associated (or correlated) with Saat E. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saat E Market has no effect on the direction of Calamos Longshort i.e., Calamos Longshort and Saat E go up and down completely randomly.
Pair Corralation between Calamos Longshort and Saat E
Assuming the 90 days horizon Calamos Longshort Fund is expected to generate 2.21 times more return on investment than Saat E. However, Calamos Longshort is 2.21 times more volatile than Saat E Market. It trades about 0.25 of its potential returns per unit of risk. Saat E Market is currently generating about 0.29 per unit of risk. If you would invest 997.00 in Calamos Longshort Fund on April 30, 2025 and sell it today you would earn a total of 115.00 from holding Calamos Longshort Fund or generate 11.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Longshort Fund vs. Saat E Market
Performance |
| Timeline |
| Calamos Longshort |
| Saat E Market |
Calamos Longshort and Saat E Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Longshort and Saat E
The main advantage of trading using opposite Calamos Longshort and Saat E positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Longshort position performs unexpectedly, Saat E 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 Saat E will offset losses from the drop in Saat E's long position.The idea behind Calamos Longshort Fund and Saat E Market pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Valuation module to check real value of public entities based on technical and fundamental data.
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