Correlation Between Neuberger Berman and Calamos Global

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

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

Diversification Opportunities for Neuberger Berman and Calamos Global

0.7

Correlation Coefficient

Neuberger Berman  Calamos Global

Poor diversification

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

Pair Corralation between Neuberger Berman and Calamos Global

Considering the 90-day investment horizon Neuberger Berman Mlp is expected to under-perform the Calamos Global. But the fund apears to be less risky and, when comparing its historical volatility, Neuberger Berman Mlp is 1.04 times less risky than Calamos Global. The fund trades about -0.01 of its potential returns per unit of risk. The Calamos Global Total is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest  1,133  in Calamos Global Total on February 17, 2025 and sell it today you would lose (25.00) from holding Calamos Global Total or give up 2.21% of portfolio value over 90 days.

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

Neuberger Berman Mlp  vs.  Calamos Global Total

Neuberger Berman Mlp

Risk-Adjusted Performance

Very Weak

Over the last 90 days Neuberger Berman Mlp has generated negative risk-adjusted returns adding no value to fund investors. Despite quite persistent primary indicators, Neuberger Berman is not utilizing all of its potentials. The latest stock price mess, may contribute to short-term losses for the institutional investors.

Calamos Global Total

Risk-Adjusted Performance

Very Weak

Over the last 90 days Calamos Global Total has generated negative risk-adjusted returns adding no value to fund investors. In spite of very healthy technical and fundamental indicators, Calamos Global is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with Neuberger Berman and Calamos Global

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

The idea behind Neuberger Berman Mlp and Calamos Global Total 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.