Correlation Between Saat Moderate and Calamos Global
Can any of the company-specific risk be diversified away by investing in both Saat Moderate and Calamos Global 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 Saat Moderate and Calamos Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Saat Moderate Strategy and Calamos Global Equity, you can compare the effects of market volatilities on Saat Moderate and Calamos Global 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 Saat Moderate with a short position of Calamos Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Saat Moderate and Calamos Global.
Diversification Opportunities for Saat Moderate and Calamos Global
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Saat and Calamos is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Saat Moderate Strategy and Calamos Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Global Equity and Saat Moderate 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 Saat Moderate Strategy are associated (or correlated) with Calamos Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Global Equity has no effect on the direction of Saat Moderate i.e., Saat Moderate and Calamos Global go up and down completely randomly.
Pair Corralation between Saat Moderate and Calamos Global
Assuming the 90 days horizon Saat Moderate is expected to generate 6.58 times less return on investment than Calamos Global. But when comparing it to its historical volatility, Saat Moderate Strategy is 3.27 times less risky than Calamos Global. It trades about 0.11 of its potential returns per unit of risk. Calamos Global Equity is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 1,800 in Calamos Global Equity on September 7, 2024 and sell it today you would earn a total of 210.00 from holding Calamos Global Equity or generate 11.67% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Saat Moderate Strategy vs. Calamos Global Equity
Performance |
Timeline |
Saat Moderate Strategy |
Calamos Global Equity |
Saat Moderate and Calamos Global Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Saat Moderate and Calamos Global
The main advantage of trading using opposite Saat Moderate and Calamos Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Saat Moderate position performs unexpectedly, Calamos Global 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 Global will offset losses from the drop in Calamos Global's long position.Saat Moderate vs. Vanguard Wellesley Income | Saat Moderate vs. Vanguard Wellesley Income | Saat Moderate vs. Blackrock Multi Asset Income | Saat Moderate vs. The Hartford Balanced |
Calamos Global vs. Transamerica Large Cap | Calamos Global vs. T Rowe Price | Calamos Global vs. Touchstone Large Cap | Calamos Global vs. Dodge Cox Stock |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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