Correlation Between Jhvit Core and Calvert Short
Can any of the company-specific risk be diversified away by investing in both Jhvit Core and Calvert Short 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 Core and Calvert Short into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jhvit Core Bond and Calvert Short Duration, you can compare the effects of market volatilities on Jhvit Core and Calvert Short 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 Core with a short position of Calvert Short. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jhvit Core and Calvert Short.
Diversification Opportunities for Jhvit Core and Calvert Short
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Jhvit and Calvert is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Jhvit Core Bond and Calvert Short Duration in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert Short Duration and Jhvit Core 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 Core Bond are associated (or correlated) with Calvert Short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert Short Duration has no effect on the direction of Jhvit Core i.e., Jhvit Core and Calvert Short go up and down completely randomly.
Pair Corralation between Jhvit Core and Calvert Short
Assuming the 90 days horizon Jhvit Core Bond is expected to generate 1.99 times more return on investment than Calvert Short. However, Jhvit Core is 1.99 times more volatile than Calvert Short Duration. It trades about 0.17 of its potential returns per unit of risk. Calvert Short Duration is currently generating about 0.22 per unit of risk. If you would invest 1,126 in Jhvit Core Bond on June 3, 2025 and sell it today you would earn a total of 31.00 from holding Jhvit Core Bond or generate 2.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jhvit Core Bond vs. Calvert Short Duration
Performance |
| Timeline |
| Jhvit Core Bond |
| Calvert Short Duration |
Jhvit Core and Calvert Short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jhvit Core and Calvert Short
The main advantage of trading using opposite Jhvit Core and Calvert Short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jhvit Core position performs unexpectedly, Calvert Short 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 Short will offset losses from the drop in Calvert Short's long position.| Jhvit Core vs. Vanguard Total Stock | Jhvit Core vs. Vanguard 500 Index | Jhvit Core vs. Vanguard Total Stock | Jhvit Core vs. Vanguard Total Stock |
| Calvert Short vs. Delaware Limited Term Diversified | Calvert Short vs. Seafarer Overseas Growth | Calvert Short vs. Franklin Emerging Market | Calvert Short vs. Alphacentric Hedged Market |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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