Correlation Between Calamos Dynamic and Vy(r) Jpmorgan

Can any of the company-specific risk be diversified away by investing in both Calamos Dynamic and Vy(r) Jpmorgan 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 Vy(r) Jpmorgan 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 Vy Jpmorgan Small, you can compare the effects of market volatilities on Calamos Dynamic and Vy(r) Jpmorgan 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 Vy(r) Jpmorgan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Dynamic and Vy(r) Jpmorgan.

Diversification Opportunities for Calamos Dynamic and Vy(r) Jpmorgan

0.7

Correlation Coefficient

Calamos Dynamic  Vy(r) Jpmorgan

Poor diversification

The 3 months correlation between Calamos and Vy(r) is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and Vy Jpmorgan Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vy Jpmorgan Small 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 Vy(r) Jpmorgan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vy Jpmorgan Small has no effect on the direction of Calamos Dynamic i.e., Calamos Dynamic and Vy(r) Jpmorgan go up and down completely randomly.

Pair Corralation between Calamos Dynamic and Vy(r) Jpmorgan

Considering the 90-day investment horizon Calamos Dynamic Convertible is expected to generate 0.63 times more return on investment than Vy(r) Jpmorgan. However, Calamos Dynamic Convertible is 1.6 times less risky than Vy(r) Jpmorgan. It trades about 0.19 of its potential returns per unit of risk. Vy Jpmorgan Small is currently generating about 0.07 per unit of risk. If you would invest  1,982  in Calamos Dynamic Convertible on July 6, 2025 and sell it today you would earn a total of  158.00  from holding Calamos Dynamic Convertible or generate 7.97% return on investment over 90 days.

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

Calamos Dynamic Convertible  vs.  Vy Jpmorgan Small

Calamos Dynamic Conv

Risk-Adjusted Performance

Good

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

Vy Jpmorgan Small

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Vy Jpmorgan Small are ranked lower than 5 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong forward indicators, Vy(r) Jpmorgan is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Calamos Dynamic and Vy(r) Jpmorgan

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

The idea behind Calamos Dynamic Convertible and Vy Jpmorgan Small 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.

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 Global Correlations module to find global opportunities by holding instruments from different markets.