Correlation Between Jhancock Short and Calvert International
Can any of the company-specific risk be diversified away by investing in both Jhancock Short and Calvert International 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 Short and Calvert International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jhancock Short Duration and Calvert International Equity, you can compare the effects of market volatilities on Jhancock Short and Calvert International 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 Short with a short position of Calvert International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jhancock Short and Calvert International.
Diversification Opportunities for Jhancock Short and Calvert International
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Jhancock and Calvert is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Short Duration and Calvert International Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert International and Jhancock Short 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 Short Duration are associated (or correlated) with Calvert International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert International has no effect on the direction of Jhancock Short i.e., Jhancock Short and Calvert International go up and down completely randomly.
Pair Corralation between Jhancock Short and Calvert International
Assuming the 90 days horizon Jhancock Short is expected to generate 2.69 times less return on investment than Calvert International. But when comparing it to its historical volatility, Jhancock Short Duration is 7.33 times less risky than Calvert International. It trades about 0.22 of its potential returns per unit of risk. Calvert International Equity is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 2,068 in Calvert International Equity on July 21, 2025 and sell it today you would earn a total of 92.00 from holding Calvert International Equity or generate 4.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jhancock Short Duration vs. Calvert International Equity
Performance |
| Timeline |
| Jhancock Short Duration |
| Calvert International |
Jhancock Short and Calvert International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jhancock Short and Calvert International
The main advantage of trading using opposite Jhancock Short and Calvert International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jhancock Short position performs unexpectedly, Calvert International 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 International will offset losses from the drop in Calvert International's long position.| Jhancock Short vs. Doubleline Core Fixed | Jhancock Short vs. T Rowe Price | Jhancock Short vs. Touchstone International Equity | Jhancock Short vs. Quantitative Longshort Equity |
| Calvert International vs. Short Intermediate Bond Fund | Calvert International vs. Jhancock Short Duration | Calvert International vs. Alpine Ultra Short | Calvert International vs. Siit Ultra Short |
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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