Calamos Global Correlations

Funds . USA . 
Fund . Calamos Global Dynamic
CHW Fund  USD 7.11  0.01  0.14%   
The current 90-days correlation between Calamos Global Dynamic and Calamos Convertible Opportunities is 0.68 (i.e., Poor diversification). The correlation of Calamos Global 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Calamos Global Correlation With Market

Poor diversification

The correlation between Calamos Global Dynamic and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Global Dynamic 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 Global Dynamic. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Calamos Fund

  0.95TWN Taiwan ClosedPairCorr
  0.93CAF Morgan Stanley ChinaPairCorr
  0.89KF Korea ClosedPairCorr
  0.78FMY First Trust MortgagePairCorr
  0.93JOF Japan Smaller CapitaPairCorr
  0.86CHN China Fund Normal TradingPairCorr
  0.96TDF Templeton Dragon ClosedPairCorr
  0.92GPPSX Goldman Sachs ShortPairCorr
  0.99JGMCX Janus TritonPairCorr
  0.99PGBEX Blue Chip FundPairCorr
  0.99NWOBX Nationwide DestinationPairCorr
  0.91KAMCX Kensington Managed IncomePairCorr
  0.99CLREX Columbia BalancedPairCorr
  0.98ANVHX American Century NonPairCorr
  0.99OPTIX Oppenheimer CapitalPairCorr
  0.88IORLX Aim Taxexempt FundsPairCorr
  0.97GCMDX Goldman Sachs LocalPairCorr
  0.88FUFRX Franklin UtilitiesPairCorr
  0.94STMUX Invesco Short TermPairCorr
  0.98APDMX Artisan Mid CapPairCorr
  0.98JINTX Johnson InternationalPairCorr
  0.97MISMX Matthews Asia SmallPairCorr
  0.91DCARX Dfa California MunicipalPairCorr
  0.93BUBSX Baird Ultra ShortPairCorr
  0.96FEFAX First Eagle FundPairCorr
  0.99BLARX Lord Abbett BalancedPairCorr
  0.95DPRRX Delaware ReitPairCorr
  0.97BGHSX Brandywineglobal HighPairCorr
  0.98OAZMX Oakmark Fund R6PairCorr
  0.99QIBGX Federated Mdt BalancedPairCorr
  0.99TEMUX Emerging Markets EquityPairCorr
  0.94PNRZX Pgim Jennison NaturalPairCorr
  0.99FAHYX Fidelity Advisor HighPairCorr
  0.99ETIMX Eventide Multi AssetPairCorr
  0.97NBPIX Neuberger Berman LargePairCorr
  0.98AONIX One Choice PortfolioPairCorr
  0.99ETJ Eaton Vance RiskPairCorr
  0.99GGNPX Goldman Sachs HighPairCorr
  0.64BCPAX Brandes E PlusPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
CGO
+ 0.99
CSQ
CSQ
+ 0.98
CPZ
CGO
+ 0.98
CPZ
CSQ
+ 0.97
CHY
CPZ
+ 0.96
CHY
CGO
+ 0.96
CHY
  
High negative correlations   
CCD
- 0.26
CPZ
CGO
- 0.23
CCD
CCD
- 0.19
CSQ
CCD
- 0.19
CHY

Risk-Adjusted Indicators

There is a big difference between Calamos Fund performing well and Calamos Global 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 Global'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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