Correlation Between Calamos Growth and Ab Centrated

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

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

Diversification Opportunities for Calamos Growth and Ab Centrated

0.93

Correlation Coefficient

Calamos Growth  Ab Centrated

Almost no diversification

The 3 months correlation between Calamos and WPASX is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Growth Fund and Ab Centrated Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab Centrated Growth and Calamos Growth 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 Growth Fund are associated (or correlated) with Ab Centrated. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab Centrated Growth has no effect on the direction of Calamos Growth i.e., Calamos Growth and Ab Centrated go up and down completely randomly.

Pair Corralation between Calamos Growth and Ab Centrated

Assuming the 90 days horizon Calamos Growth Fund is expected to generate 1.11 times more return on investment than Ab Centrated. However, Calamos Growth is 1.11 times more volatile than Ab Centrated Growth. It trades about 0.28 of its potential returns per unit of risk. Ab Centrated Growth is currently generating about 0.15 per unit of risk. If you would invest  4,140  in Calamos Growth Fund on May 5, 2025 and sell it today you would earn a total of  718.00  from holding Calamos Growth Fund or generate 17.34% return on investment over 90 days.

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

Calamos Growth Fund  vs.  Ab Centrated Growth

Calamos Growth

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Calamos Growth Fund 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 Growth showed solid returns over the last few months and may actually be approaching a breakup point.

Ab Centrated Growth

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Ab Centrated Growth are ranked lower than 12 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Ab Centrated may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Calamos Growth and Ab Centrated

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

The idea behind Calamos Growth Fund and Ab Centrated 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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.