Correlation Between Gabelli Convertible and Calvert Bond
Can any of the company-specific risk be diversified away by investing in both Gabelli Convertible and Calvert Bond 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 Gabelli Convertible and Calvert Bond into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gabelli Convertible And and Calvert Bond Portfolio, you can compare the effects of market volatilities on Gabelli Convertible and Calvert Bond 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 Gabelli Convertible with a short position of Calvert Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gabelli Convertible and Calvert Bond.
Diversification Opportunities for Gabelli Convertible and Calvert Bond
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Gabelli and Calvert is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Convertible And and Calvert Bond Portfolio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert Bond Portfolio and Gabelli Convertible 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 Gabelli Convertible And are associated (or correlated) with Calvert Bond. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert Bond Portfolio has no effect on the direction of Gabelli Convertible i.e., Gabelli Convertible and Calvert Bond go up and down completely randomly.
Pair Corralation between Gabelli Convertible and Calvert Bond
Considering the 90-day investment horizon Gabelli Convertible And is expected to generate 2.44 times more return on investment than Calvert Bond. However, Gabelli Convertible is 2.44 times more volatile than Calvert Bond Portfolio. It trades about 0.33 of its potential returns per unit of risk. Calvert Bond Portfolio is currently generating about 0.19 per unit of risk. If you would invest 351.00 in Gabelli Convertible And on May 28, 2025 and sell it today you would earn a total of 52.00 from holding Gabelli Convertible And or generate 14.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gabelli Convertible And vs. Calvert Bond Portfolio
Performance |
| Timeline |
| Gabelli Convertible And |
| Calvert Bond Portfolio |
Gabelli Convertible and Calvert Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gabelli Convertible and Calvert Bond
The main advantage of trading using opposite Gabelli Convertible and Calvert Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gabelli Convertible position performs unexpectedly, Calvert Bond 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 Calvert Bond will offset losses from the drop in Calvert Bond's long position.| Gabelli Convertible vs. GAMCO Natural Resources | Gabelli Convertible vs. Gabelli Healthcare WellnessRx | Gabelli Convertible vs. Gabelli Global Small | Gabelli Convertible vs. John Hancock Income |
| Calvert Bond vs. Boston Partners Small | Calvert Bond vs. Goldman Sachs Small | Calvert Bond vs. Northern Small Cap | Calvert Bond vs. Queens Road Small |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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