Calamos Dynamic Correlations

Funds . USA . 
Fund . Calamos Dynamic Convertible
CCD Fund  USD 20.58  0.02  0.1%   
The current 90-days correlation between Calamos Dynamic Conv and Calamos Convertible And is 0.6 (i.e., Poor diversification). The correlation of Calamos Dynamic is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Calamos Dynamic Correlation With Market

Very weak diversification

The correlation between Calamos Dynamic Convertible and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Dynamic Convertible and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Calamos Dynamic Convertible. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving against Calamos Fund

  0.53RYMEX Commodities StrategyPairCorr
  0.53RYMBX Commodities StrategyPairCorr
  0.51RYMJX Commodities StrategyPairCorr
  0.49KF Korea ClosedPairCorr
  0.43BUBSX Baird Ultra ShortPairCorr
  0.38LSIIX Loomis Sayles InvestmentPairCorr
  0.38KAMCX Kensington Managed IncomePairCorr
  0.37GPPSX Goldman Sachs ShortPairCorr
  0.34WACSX Western Asset EPairCorr
  0.33FBIOX Biotechnology PortfolioPairCorr
  0.43PNRZX Pgim Jennison NaturalPairCorr
  0.33ADNIX Amer Beacon Ark Steady GrowthPairCorr
  0.32NPSFX Nuveen Preferred SecPairCorr
  0.32TIMPX Touchstone FundsPairCorr
  0.31AAIYX Alger Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Calamos Fund performing well and Calamos Dynamic Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Calamos Dynamic's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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