Correlation Between Calamos Strategic and Perkins Mid

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

By analyzing existing cross correlation between Calamos Strategic Total and Perkins Mid Cap, you can compare the effects of market volatilities on Calamos Strategic and Perkins Mid 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 Strategic with a short position of Perkins Mid. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calamos Strategic and Perkins Mid.

Diversification Opportunities for Calamos Strategic and Perkins Mid

0.01

Correlation Coefficient

Calamos Strategic  Perkins Mid

Significant diversification

The 3 months correlation between Calamos and Perkins is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Strategic Total and Perkins Mid Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Perkins Mid Cap and Calamos Strategic 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 Strategic Total are associated (or correlated) with Perkins Mid. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Perkins Mid Cap has no effect on the direction of Calamos Strategic i.e., Calamos Strategic and Perkins Mid go up and down completely randomly.

Pair Corralation between Calamos Strategic and Perkins Mid

Considering the 90-day investment horizon Calamos Strategic Total is expected to generate 0.64 times more return on investment than Perkins Mid. However, Calamos Strategic Total is 1.57 times less risky than Perkins Mid. It trades about 0.03 of its potential returns per unit of risk. Perkins Mid Cap is currently generating about -0.07 per unit of risk. If you would invest  1,880  in Calamos Strategic Total on September 15, 2025 and sell it today you would earn a total of  23.00  from holding Calamos Strategic Total or generate 1.22% return on investment over 90 days.

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

Calamos Strategic Total  vs.  Perkins Mid Cap

Calamos Strategic Total

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Calamos Strategic Total are ranked lower than 2 (%) of all funds and portfolios of funds over the last 90 days. Even with relatively invariable basic indicators, Calamos Strategic is not utilizing all of its potentials. The current stock price agitation, may contribute to short-term losses for the retail investors.

Perkins Mid Cap

Risk-Adjusted Performance

Weakest

Over the last 90 days Perkins Mid Cap has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong fundamental indicators, Perkins Mid 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 Strategic and Perkins Mid

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

The idea behind Calamos Strategic Total and Perkins Mid Cap 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.