Correlation Between Transamerica Emerging and Calamos Convertible

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

By analyzing existing cross correlation between Transamerica Emerging Markets and Calamos Convertible Opportunities, you can compare the effects of market volatilities on Transamerica Emerging and Calamos Convertible 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 Transamerica Emerging with a short position of Calamos Convertible. Check out your portfolio center. Please also check ongoing floating volatility patterns of Transamerica Emerging and Calamos Convertible.

Diversification Opportunities for Transamerica Emerging and Calamos Convertible

0.0

Correlation Coefficient

Transamerica Emerging  Calamos Convertible

Pay attention - limited upside

The 3 months correlation between Transamerica and Calamos is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Transamerica Emerging Markets and Calamos Convertible Opportunit in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calamos Convertible and Transamerica Emerging 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 Transamerica Emerging Markets are associated (or correlated) with Calamos Convertible. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calamos Convertible has no effect on the direction of Transamerica Emerging i.e., Transamerica Emerging and Calamos Convertible go up and down completely randomly.

Pair Corralation between Transamerica Emerging and Calamos Convertible

If you would invest  983.00  in Calamos Convertible Opportunities on May 7, 2025 and sell it today you would earn a total of  51.00  from holding Calamos Convertible Opportunities or generate 5.19% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Transamerica Emerging Markets  vs.  Calamos Convertible Opportunit

Transamerica Emerging

Risk-Adjusted Performance

Solid

Over the last 90 days Transamerica Emerging Markets has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Transamerica Emerging is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Calamos Convertible

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Calamos Convertible Opportunities are ranked lower than 10 (%) of all funds and portfolios of funds over the last 90 days. Despite fairly strong technical indicators, Calamos Convertible is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with Transamerica Emerging and Calamos Convertible

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

The idea behind Transamerica Emerging Markets and Calamos Convertible Opportunities 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.