Correlation Between Calamos Growth and World Ex
Can any of the company-specific risk be diversified away by investing in both Calamos Growth and World Ex 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 Growth and World Ex into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Growth Fund and World Ex Val, you can compare the effects of market volatilities on Calamos Growth and World Ex 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 Growth with a short position of World Ex. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Growth and World Ex.
Diversification Opportunities for Calamos Growth and World Ex
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Calamos and World is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Growth Fund and World Ex Val in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on World Ex Val and Calamos Growth 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 Growth Fund are associated (or correlated) with World Ex. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of World Ex Val has no effect on the direction of Calamos Growth i.e., Calamos Growth and World Ex go up and down completely randomly.
Pair Corralation between Calamos Growth and World Ex
Assuming the 90 days horizon Calamos Growth Fund is expected to generate 1.23 times more return on investment than World Ex. However, Calamos Growth is 1.23 times more volatile than World Ex Val. It trades about 0.19 of its potential returns per unit of risk. World Ex Val is currently generating about 0.19 per unit of risk. If you would invest 4,527 in Calamos Growth Fund on June 8, 2025 and sell it today you would earn a total of 440.00 from holding Calamos Growth Fund or generate 9.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.41% |
| Values | Daily Returns |
Calamos Growth Fund vs. World Ex Val
Performance |
| Timeline |
| Calamos Growth |
| World Ex Val |
Calamos Growth and World Ex Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Growth and World Ex
The main advantage of trading using opposite Calamos Growth and World Ex positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Growth position performs unexpectedly, World Ex 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 World Ex will offset losses from the drop in World Ex's long position.| Calamos Growth vs. Ab Global Risk | Calamos Growth vs. Mutual Of America | Calamos Growth vs. Barings High Yield | Calamos Growth vs. Morningstar Aggressive Growth |
| World Ex vs. Qs Growth Fund | World Ex vs. Eagle Growth Income | World Ex vs. T Rowe Price | World Ex vs. L Abbett Growth |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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