Calamos ETF Correlations

CPNJ Etf

24.83 0.06 0.24%

The current 90-days correlation between Calamos ETF Trust and Innovator ETFs Trust is 0.33 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Calamos ETF moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Calamos ETF Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Calamos ETF Correlation With Market

Very weak diversification

The correlation between Calamos ETF Trust and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos ETF Trust 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 ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Calamos Etf

0.99	BUFR	First Trust Cboe	Pair Corr
0.98	BUFD	FT Cboe Vest	Pair Corr
0.99	PSEP	Innovator SP 500	Pair Corr
0.99	PJAN	Innovator SP 500	Pair Corr
0.99	PJUL	Innovator SP 500	Pair Corr
0.99	PAUG	Innovator Equity Power	Pair Corr
0.94	DNOV	FT Cboe Vest	Pair Corr
0.99	PMAY	Innovator SP 500	Pair Corr
0.99	PJUN	Innovator SP 500	Pair Corr
0.97	UPRO	ProShares UltraPro SP500	Pair Corr
0.99	QTJA	Innovator ETFs Trust	Pair Corr
0.87	QTOC	Innovator ETFs Trust	Pair Corr
0.85	XTOC	Innovator ETFs Trust	Pair Corr
0.99	QTAP	Innovator Growth 100	Pair Corr
0.9	TSJA	TSJA	Pair Corr
0.99	XTJA	Innovator ETFs Trust	Pair Corr
0.91	DSJA	DSJA	Pair Corr
0.99	XDJA	Innovator ETFs Trust	Pair Corr
0.99	XTAP	Innovator Equity Acc	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.8	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.83	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.92	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.88	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.92	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.94	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.65	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.84	WMT	Walmart Aggressive Push	Pair Corr

Moving against Calamos Etf

0.85	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.84	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.8	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.72	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

Calamos ETF Competition Risk-Adjusted Indicators

There is a big difference between Calamos Etf performing well and Calamos ETF ETF 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 ETF'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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