Correlation Between Calamos Global and Issachar Fund
Can any of the company-specific risk be diversified away by investing in both Calamos Global and Issachar Fund 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 Issachar Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Global Growth and Issachar Fund Class, you can compare the effects of market volatilities on Calamos Global and Issachar Fund 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 Issachar Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Global and Issachar Fund.
Diversification Opportunities for Calamos Global and Issachar Fund
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Calamos and Issachar is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Global Growth and Issachar Fund Class in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Issachar Fund Class 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 Growth are associated (or correlated) with Issachar Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Issachar Fund Class has no effect on the direction of Calamos Global i.e., Calamos Global and Issachar Fund go up and down completely randomly.
Pair Corralation between Calamos Global and Issachar Fund
Assuming the 90 days horizon Calamos Global is expected to generate 1.24 times less return on investment than Issachar Fund. But when comparing it to its historical volatility, Calamos Global Growth is 1.9 times less risky than Issachar Fund. It trades about 0.2 of its potential returns per unit of risk. Issachar Fund Class is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 954.00 in Issachar Fund Class on May 30, 2025 and sell it today you would earn a total of 84.00 from holding Issachar Fund Class or generate 8.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Calamos Global Growth vs. Issachar Fund Class
Performance |
| Timeline |
| Calamos Global Growth |
| Issachar Fund Class |
Calamos Global and Issachar Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Calamos Global and Issachar Fund
The main advantage of trading using opposite Calamos Global and Issachar Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Global position performs unexpectedly, Issachar Fund 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 Issachar Fund will offset losses from the drop in Issachar Fund's long position.| Calamos Global vs. Calamos Growth Income | Calamos Global vs. Calamos Opportunistic Value | Calamos Global vs. Calamos International Growth | Calamos Global vs. Calamos Market Neutral |
| Issachar Fund vs. Tiaa Cref Real Estate | Issachar Fund vs. Rreef Property Trust | Issachar Fund vs. Redwood Real Estate | Issachar Fund vs. Simt Real Estate |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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