Correlation Between Emerging Markets and Calamos Dynamic
Can any of the company-specific risk be diversified away by investing in both Emerging Markets and Calamos Dynamic 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 Emerging Markets and Calamos Dynamic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Emerging Markets Fund and Calamos Dynamic Convertible, you can compare the effects of market volatilities on Emerging Markets and Calamos Dynamic 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 Emerging Markets with a short position of Calamos Dynamic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Emerging Markets and Calamos Dynamic.
Diversification Opportunities for Emerging Markets and Calamos Dynamic
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Emerging and Calamos is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets Fund and Calamos Dynamic Convertible in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Dynamic Conv and Emerging Markets 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 Emerging Markets Fund are associated (or correlated) with Calamos Dynamic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Dynamic Conv has no effect on the direction of Emerging Markets i.e., Emerging Markets and Calamos Dynamic go up and down completely randomly.
Pair Corralation between Emerging Markets and Calamos Dynamic
If you would invest (100.00) in Emerging Markets Fund on January 18, 2024 and sell it today you would earn a total of 100.00 from holding Emerging Markets Fund or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Emerging Markets Fund vs. Calamos Dynamic Convertible
Performance |
Timeline |
Emerging Markets |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Calamos Dynamic Conv |
Emerging Markets and Calamos Dynamic Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Emerging Markets and Calamos Dynamic
The main advantage of trading using opposite Emerging Markets and Calamos Dynamic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Emerging Markets position performs unexpectedly, Calamos Dynamic 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 Dynamic will offset losses from the drop in Calamos Dynamic's long position.Emerging Markets vs. Emerging Markets Fund | Emerging Markets vs. Emerging Markets Fund | Emerging Markets vs. Emerging Markets Fund | Emerging Markets vs. Emerging Markets Fund |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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