Correlation Between Calamos Dynamic and Guidepath Growth

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

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

Diversification Opportunities for Calamos Dynamic and Guidepath Growth

-0.19

Correlation Coefficient

Calamos Dynamic  Guidepath Growth

Good diversification

The 3 months correlation between Calamos and Guidepath is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and Guidepath Growth Allocation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guidepath Growth All and Calamos Dynamic 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 Calamos Dynamic Convertible are associated (or correlated) with Guidepath Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guidepath Growth All has no effect on the direction of Calamos Dynamic i.e., Calamos Dynamic and Guidepath Growth go up and down completely randomly.

Pair Corralation between Calamos Dynamic and Guidepath Growth

Considering the 90-day investment horizon Calamos Dynamic Convertible is expected to under-perform the Guidepath Growth. In addition to that, Calamos Dynamic is 1.11 times more volatile than Guidepath Growth Allocation. It trades about -0.12 of its total potential returns per unit of risk. Guidepath Growth Allocation is currently generating about 0.23 per unit of volatility. If you would invest  1,814  in Guidepath Growth Allocation on May 14, 2025 and sell it today you would earn a total of  173.00  from holding Guidepath Growth Allocation or generate 9.54% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Calamos Dynamic Convertible  vs.  Guidepath Growth Allocation

Calamos Dynamic Conv

Risk-Adjusted Performance

Weakest

Over the last 90 days Calamos Dynamic Convertible has generated negative risk-adjusted returns adding no value to fund investors. In spite of rather sound fundamental indicators, Calamos Dynamic is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Guidepath Growth All

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Guidepath Growth Allocation are ranked lower than 17 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Guidepath Growth may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Calamos Dynamic and Guidepath Growth

The main advantage of trading using opposite Calamos Dynamic and Guidepath Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Dynamic position performs unexpectedly, Guidepath Growth 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 Guidepath Growth will offset losses from the drop in Guidepath Growth's long position.

The idea behind Calamos Dynamic Convertible and Guidepath Growth Allocation 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.