Correlation Between Cohen and Calamos Convertible
Can any of the company-specific risk be diversified away by investing in both Cohen and Calamos Convertible 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 Cohen and Calamos Convertible into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cohen And Steers and Calamos Convertible And, you can compare the effects of market volatilities on Cohen and Calamos Convertible 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 Cohen with a short position of Calamos Convertible. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cohen and Calamos Convertible.
Diversification Opportunities for Cohen and Calamos Convertible
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Cohen and Calamos is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding Cohen And Steers and Calamos Convertible And in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Convertible And and Cohen 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 Cohen And Steers are associated (or correlated) with Calamos Convertible. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Convertible And has no effect on the direction of Cohen i.e., Cohen and Calamos Convertible go up and down completely randomly.
Pair Corralation between Cohen and Calamos Convertible
Considering the 90-day investment horizon Cohen is expected to generate 3.78 times less return on investment than Calamos Convertible. But when comparing it to its historical volatility, Cohen And Steers is 1.0 times less risky than Calamos Convertible. It trades about 0.04 of its potential returns per unit of risk. Calamos Convertible And is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 1,035 in Calamos Convertible And on June 6, 2025 and sell it today you would earn a total of 60.00 from holding Calamos Convertible And or generate 5.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cohen And Steers vs. Calamos Convertible And
Performance |
| Timeline |
| Cohen And Steers |
| Calamos Convertible And |
Cohen and Calamos Convertible Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cohen and Calamos Convertible
The main advantage of trading using opposite Cohen and Calamos Convertible positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cohen position performs unexpectedly, Calamos Convertible 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 Calamos Convertible will offset losses from the drop in Calamos Convertible's long position.| Cohen vs. Cohen Steers Reit | Cohen vs. Dnp Select Income | Cohen vs. Cohen Steers Qualityome | Cohen vs. Pimco Dynamic Income |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |