Calamos Hedged Correlations

Mutual Funds . USA . 
Fund . Calamos Hedged Equity
CIHEX Fund  USD 17.54  0.05  0.29%   
The current 90-days correlation between Calamos Hedged Equity and Calamos Antetokounmpo Sustainable is 0.92 (i.e., Almost no diversification). The correlation of Calamos Hedged is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Calamos Hedged Correlation With Market

Very poor diversification

The correlation between Calamos Hedged Equity and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Hedged Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Calamos Hedged Equity. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Calamos Mutual Fund

  0.91SROIX Calamos AntetokounmpoPairCorr
  0.89SROCX Calamos AntetokounmpoPairCorr
  0.91SRORX Calamos AntetokounmpoPairCorr
  0.99CVAIX Calamos OpportunisticPairCorr
  0.99CVACX Calamos OpportunisticPairCorr
  0.99CVAAX Calamos OpportunisticPairCorr
  0.99CVGRX Calamos GrowthPairCorr
  0.99CVGCX Calamos GrowthPairCorr
  0.91CVLOX Calamos Global GrowthPairCorr
  0.9CVLCX Calamos Global GrowthPairCorr
  0.97CVSIX Calamos Market NeutralPairCorr
  0.97CVSCX Calamos Market NeutralPairCorr
  0.99CVTCX Calamos Growth IncomePairCorr
  0.97CVSOX Calamos Market NeutralPairCorr
  0.99CVTRX Calamos Growth IncomePairCorr
  0.93CXGCX Calamos Global VertiblePairCorr
  0.92CGCIX Calamos Global GrowthPairCorr
  0.92CGEOX Calamos Global EquityPairCorr
  0.99CGIOX Calamos Growth AndPairCorr
  0.99CGIIX Calamos Growth IncomePairCorr
  0.99CGRIX Calamos GrowthPairCorr
  0.87CHYDX Calamos High IncomePairCorr
  0.99CIDVX Calamos Dividend GrowthPairCorr
  0.96CICVX Calamos ConvertiblePairCorr
  0.91CIGEX Calamos Global EquityPairCorr
  0.89CIHYX Calamos High IncomePairCorr
  0.96CMNIX Calamos Market NeutralPairCorr
  0.63CMRAX Columbia Large CapPairCorr
  0.79CPCLX Calamos Phineus LongshortPairCorr
  0.81CPLIX Calamos Phineus LongshortPairCorr

Moving against Calamos Mutual Fund

  0.33CISOX Calamos InternationalPairCorr
  0.34CAISX Calamos InternationalPairCorr
  0.33CSGIX Calamos InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Calamos Mutual Fund performing well and Calamos Hedged Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Calamos Hedged's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SROIX  0.52 (0.03)(0.11) 0.07  0.65 
(0.56)
 1.04 
(1.30)
 3.47 
SROCX  0.52 (0.04)(0.12) 0.06  0.65 
(0.55)
 1.05 
(1.26)
 3.52 
SRORX  0.52 (0.04)(0.11) 0.07  0.64 
(0.56)
 1.11 
(1.25)
 3.47 
CVAIX  0.57  0.01 (0.02) 0.14  0.70 
(0.66)
 1.11 
(1.66)
 4.11 
CVACX  0.57  0.00 (0.02) 0.13  0.70 
(0.66)
 1.14 
(1.71)
 4.19 
CVAAX  0.57  0.01 (0.02) 0.14  0.70 
(0.66)
 1.11 
(1.70)
 4.16 
CVGRX  0.71  0.03  0.02  0.16  0.96 
(0.69)
 1.62 
(2.15)
 4.90 
CVGCX  0.70  0.03  0.01  0.16  0.97 
(0.68)
 1.63 
(2.20)
 4.91 
CVLOX  0.45 (0.03)(0.13) 0.07  0.55 
(0.52)
 1.00 
(0.98)
 3.00 
CVLCX  0.46 (0.04)(0.12) 0.07  0.57 
(0.52)
 1.00 
(1.00)
 3.03 

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