Correlation Between Calamos Longshort and Multi Index
Can any of the company-specific risk be diversified away by investing in both Calamos Longshort and Multi Index 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 Longshort and Multi Index into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calamos Longshort Fund and Multi Index 2015 Lifetime, you can compare the effects of market volatilities on Calamos Longshort and Multi Index 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 Longshort with a short position of Multi Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Longshort and Multi Index.
Diversification Opportunities for Calamos Longshort and Multi Index
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Calamos and Multi is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Longshort Fund and Multi Index 2015 Lifetime in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi Index 2015 and Calamos Longshort 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 Longshort Fund are associated (or correlated) with Multi Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi Index 2015 has no effect on the direction of Calamos Longshort i.e., Calamos Longshort and Multi Index go up and down completely randomly.
Pair Corralation between Calamos Longshort and Multi Index
Assuming the 90 days horizon Calamos Longshort Fund is expected to generate 2.56 times more return on investment than Multi Index. However, Calamos Longshort is 2.56 times more volatile than Multi Index 2015 Lifetime. It trades about 0.25 of its potential returns per unit of risk. Multi Index 2015 Lifetime is currently generating about 0.25 per unit of risk. If you would invest 992.00 in Calamos Longshort Fund on April 29, 2025 and sell it today you would earn a total of 120.00 from holding Calamos Longshort Fund or generate 12.1% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Calamos Longshort Fund vs. Multi Index 2015 Lifetime
Performance |
Timeline |
Calamos Longshort |
Multi Index 2015 |
Calamos Longshort and Multi Index Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Calamos Longshort and Multi Index
The main advantage of trading using opposite Calamos Longshort and Multi Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calamos Longshort position performs unexpectedly, Multi Index 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 Multi Index will offset losses from the drop in Multi Index's long position.Calamos Longshort vs. Ab Bond Inflation | Calamos Longshort vs. Multisector Bond Sma | Calamos Longshort vs. The National Tax Free | Calamos Longshort vs. Siit High Yield |
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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 Transaction History module to view history of all your transactions and understand their impact on performance.
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