Correlation Between Jhvit International and Calvert Emerging
Can any of the company-specific risk be diversified away by investing in both Jhvit International and Calvert Emerging 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 Jhvit International and Calvert Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jhvit International Small and Calvert Emerging Markets, you can compare the effects of market volatilities on Jhvit International and Calvert Emerging 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 Jhvit International with a short position of Calvert Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jhvit International and Calvert Emerging.
Diversification Opportunities for Jhvit International and Calvert Emerging
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jhvit and Calvert is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Jhvit International Small and Calvert Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert Emerging Markets and Jhvit International 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 Jhvit International Small are associated (or correlated) with Calvert Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert Emerging Markets has no effect on the direction of Jhvit International i.e., Jhvit International and Calvert Emerging go up and down completely randomly.
Pair Corralation between Jhvit International and Calvert Emerging
Assuming the 90 days horizon Jhvit International Small is expected to generate 0.84 times more return on investment than Calvert Emerging. However, Jhvit International Small is 1.19 times less risky than Calvert Emerging. It trades about 0.35 of its potential returns per unit of risk. Calvert Emerging Markets is currently generating about 0.14 per unit of risk. If you would invest 1,362 in Jhvit International Small on April 22, 2025 and sell it today you would earn a total of 188.00 from holding Jhvit International Small or generate 13.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jhvit International Small vs. Calvert Emerging Markets
Performance |
| Timeline |
| Jhvit International Small |
| Calvert Emerging Markets |
Jhvit International and Calvert Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jhvit International and Calvert Emerging
The main advantage of trading using opposite Jhvit International and Calvert Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jhvit International position performs unexpectedly, Calvert Emerging 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 Emerging will offset losses from the drop in Calvert Emerging's long position.| Jhvit International vs. Touchstone Premium Yield | Jhvit International vs. Ultra Short Term Fixed | Jhvit International vs. Artisan High Income | Jhvit International vs. Barings High Yield |
| Calvert Emerging vs. Gurtin California Muni | Calvert Emerging vs. Bbh Intermediate Municipal | Calvert Emerging vs. Lord Abbett Intermediate | Calvert Emerging vs. Ishares Municipal Bond |
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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