Correlation Between Artisan Global and Calamos Global

Can any of the company-specific risk be diversified away by investing in both Artisan Global 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 Artisan Global and Calamos Global into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Artisan Global Opportunities and Calamos Global Growth, you can compare the effects of market volatilities on Artisan Global 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 Artisan Global with a short position of Calamos Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Artisan Global and Calamos Global.

Diversification Opportunities for Artisan Global and Calamos Global

0.99

Correlation Coefficient

Artisan Global  Calamos Global

No risk reduction

The 3 months correlation between Artisan and Calamos is 0.99. Overlapping area represents the amount of risk that can be diversified away by holding Artisan Global Opportunities and Calamos Global Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Global Growth and Artisan Global 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 Artisan Global Opportunities 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 Growth has no effect on the direction of Artisan Global i.e., Artisan Global and Calamos Global go up and down completely randomly.

Pair Corralation between Artisan Global and Calamos Global

Assuming the 90 days horizon Artisan Global is expected to generate 1.14 times less return on investment than Calamos Global. In addition to that, Artisan Global is 1.29 times more volatile than Calamos Global Growth. It trades about 0.19 of its total potential returns per unit of risk. Calamos Global Growth is currently generating about 0.28 per unit of volatility. If you would invest  1,212  in Calamos Global Growth on May 6, 2025 and sell it today you would earn a total of  114.00  from holding Calamos Global Growth or generate 9.41% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Strong
Accuracy	100.0%
Values	Daily Returns

Artisan Global Opportunities  vs.  Calamos Global Growth

Artisan Global Oppor

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Artisan Global Opportunities are ranked lower than 14 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Artisan Global may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Calamos Global Growth

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Calamos Global Growth are ranked lower than 21 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Calamos Global may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Artisan Global and Calamos Global

The main advantage of trading using opposite Artisan Global and Calamos Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Artisan Global 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.

The idea behind Artisan Global Opportunities and Calamos Global Growth pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.