Calamos International Correlations

CSGIX Fund

USD 10.12 0.10 1.00%

The current 90-days correlation between Calamos International and Kinetics Global Fund is 0.34 (i.e., Weak diversification). The correlation of Calamos International 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 International Correlation With Market

Very weak diversification

The correlation between Calamos International Small and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos International Small 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 International Small. 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 gross domestic product.

Moving together with Calamos Mutual Fund

0.93	CIGRX	Calamos International	Pair Corr
0.93	CIGOX	Calamos International	Pair Corr
0.93	CIGIX	Calamos International	Pair Corr
0.94	CIGCX	Calamos International	Pair Corr
1.0	CISOX	Calamos International	Pair Corr

Moving against Calamos Mutual Fund

0.46	CVSOX	Calamos Market Neutral	Pair Corr
0.45	CVSIX	Calamos Market Neutral	Pair Corr
0.43	CVGRX	Calamos Growth	Pair Corr
0.43	CVGCX	Calamos Growth	Pair Corr
0.43	CVSCX	Calamos Market Neutral	Pair Corr
0.38	CVTRX	Calamos Growth Income	Pair Corr
0.37	CVTCX	Calamos Growth Income	Pair Corr
0.36	CVAIX	Calamos Opportunistic	Pair Corr
0.36	CVACX	Calamos Opportunistic	Pair Corr
0.36	CVAAX	Calamos Opportunistic	Pair Corr
0.46	CICVX	Calamos Convertible	Pair Corr
0.45	CMNIX	Calamos Market Neutral	Pair Corr
0.43	CGRIX	Calamos Growth	Pair Corr
0.38	CGIOX	Calamos Growth And	Pair Corr
0.38	CGIIX	Calamos Growth Income	Pair Corr
0.38	CIDVX	Calamos Dividend Growth	Pair Corr
0.33	CIHEX	Calamos Hedged Equity	Pair Corr
0.52	CPLIX	Calamos Phineus Longshort	Pair Corr
0.52	CPLSX	Calamos Phineus Longshort	Pair Corr
0.52	CTAGX	Calamos Timpani Smid	Pair Corr
0.5	CPCLX	Calamos Phineus Longshort	Pair Corr
0.37	CADVX	Calamos Dividend Growth	Pair Corr
0.33	CAHEX	Calamos Hedged Equity	Pair Corr

Related Correlations Analysis

	KGLCX	CABIX	RGPAX	PGMAX	RPGIX	MFIRX	MGKAX
KGLCX		-0.02	0.79	0.48	0.46	0.06	0.66	KGLCX
CABIX	-0.02		0.45	0.72	0.7	0.8	0.42	CABIX
RGPAX	0.79	0.45		0.89	0.85	0.3	0.7	RGPAX
PGMAX	0.48	0.72	0.89		0.95	0.43	0.67	PGMAX
RPGIX	0.46	0.7	0.85	0.95		0.41	0.67	RPGIX
MFIRX	0.06	0.8	0.3	0.43	0.41		0.27	MFIRX
MGKAX	0.66	0.42	0.7	0.67	0.67	0.27		MGKAX
	KGLCX	CABIX	RGPAX	PGMAX	RPGIX	MFIRX	MGKAX

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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

RPGIX	+ 0.95	PGMAX
PGMAX	+ 0.89	RGPAX
RPGIX	+ 0.85	RGPAX
MFIRX	+ 0.8	CABIX
RGPAX	+ 0.79	KGLCX
PGMAX	+ 0.72	CABIX

High negative correlations

CABIX

- 0.02

KGLCX

Risk-Adjusted Indicators

There is a big difference between Calamos Mutual Fund performing well and Calamos International 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 International'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
KGLCX	1.07	0.38	0.32	0.51	0.57	(1.29)	3.14	(1.32)	7.99
CABIX	0.31	(0.02)	(0.24)	0.07	0.35	(0.34)	0.57	(0.72)	1.86
RGPAX	0.57	0.00	(0.06)	0.13	0.56	(0.70)	1.32	(1.36)	3.24
PGMAX	0.31	(0.03)	(0.24)	0.06	0.34	(0.38)	0.70	(0.69)	2.08
RPGIX	0.73	(0.07)	(0.06)	0.06	1.02	(0.73)	1.40	(1.57)	4.64
MFIRX	0.10	0.01	(0.53)	(0.52)	0.00	(0.23)	0.19	(0.19)	0.76
MGKAX	0.72	(0.06)	(0.10)	0.05	0.89	(0.68)	1.39	(1.20)	3.63

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