Correlation Between Jhancock Global and Calvert Bond
Can any of the company-specific risk be diversified away by investing in both Jhancock Global 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 Jhancock Global and Calvert Bond into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jhancock Global Equity and Calvert Bond Portfolio, you can compare the effects of market volatilities on Jhancock Global 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 Jhancock Global with a short position of Calvert Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jhancock Global and Calvert Bond.
Diversification Opportunities for Jhancock Global and Calvert Bond
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jhancock and Calvert is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Global Equity 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 Jhancock 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 Jhancock Global Equity 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 Jhancock Global i.e., Jhancock Global and Calvert Bond go up and down completely randomly.
Pair Corralation between Jhancock Global and Calvert Bond
Assuming the 90 days horizon Jhancock Global Equity is expected to generate 2.57 times more return on investment than Calvert Bond. However, Jhancock Global is 2.57 times more volatile than Calvert Bond Portfolio. It trades about 0.16 of its potential returns per unit of risk. Calvert Bond Portfolio is currently generating about 0.25 per unit of risk. If you would invest 1,277 in Jhancock Global Equity on May 31, 2025 and sell it today you would earn a total of 28.00 from holding Jhancock Global Equity or generate 2.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jhancock Global Equity vs. Calvert Bond Portfolio
Performance |
| Timeline |
| Jhancock Global Equity |
| Calvert Bond Portfolio |
Jhancock Global and Calvert Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jhancock Global and Calvert Bond
The main advantage of trading using opposite Jhancock Global and Calvert Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jhancock Global 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.| Jhancock Global vs. Lsv Small Cap | Jhancock Global vs. Queens Road Small | Jhancock Global vs. Valic Company I | Jhancock Global vs. Small Cap Value Fund |
| Calvert Bond vs. Putnam Money Market | Calvert Bond vs. Aig Government Money | Calvert Bond vs. Schwab Government Money | Calvert Bond vs. Money Market Obligations |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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