Calamos Opportunistic Correlations

Mutual Funds . USA . 
Fund . Calamos Opportunistic Value
CVAIX Fund  USD 22.81  0.02  0.09%   
The current 90-days correlation between Calamos Opportunistic and Goldman Sachs Government is -0.06 (i.e., Good diversification). The correlation of Calamos Opportunistic 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 Opportunistic Correlation With Market

Almost no diversification

The correlation between Calamos Opportunistic Value and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calamos Opportunistic Value 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 Opportunistic Value. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Calamos Mutual Fund

  1.0SROIX Calamos AntetokounmpoPairCorr
  1.0SROAX Innealta Capital SectorPairCorr
  1.0SROCX Calamos AntetokounmpoPairCorr
  1.0SRORX Calamos AntetokounmpoPairCorr
  1.0CVACX Calamos OpportunisticPairCorr
  1.0CVAAX Calamos OpportunisticPairCorr
  1.0CVGRX Calamos GrowthPairCorr
  1.0CVGCX Calamos GrowthPairCorr
  0.98CVLOX Calamos Global GrowthPairCorr
  0.98CVLCX Calamos Global GrowthPairCorr
  0.98CVSIX Calamos Market NeutralPairCorr
  0.98CVSCX Calamos Market NeutralPairCorr
  1.0CVTCX Calamos Growth IncomePairCorr
  0.98CVSOX Calamos Market NeutralPairCorr
  1.0CVTRX Calamos Growth IncomePairCorr
  0.98CXGCX Calamos Global VertiblePairCorr
  0.98CGCIX Calamos Global GrowthPairCorr
  0.98CGEOX Calamos Global EquityPairCorr
  1.0CGIOX Calamos Growth AndPairCorr
  1.0CGIIX Calamos Growth IncomePairCorr
  0.99CGRIX Calamos GrowthPairCorr
  0.94CHYDX Calamos High IncomePairCorr
  1.0CIDVX Calamos Dividend GrowthPairCorr
  0.99CICVX Calamos VertiblePairCorr
  0.96CIGRX Calamos InternationalPairCorr
  0.96CIGOX Calamos InternationalPairCorr
  0.96CIGIX Calamos InternationalPairCorr
  0.98CIGEX Calamos Global EquityPairCorr
  0.96CIGCX Calamos InternationalPairCorr
  0.94CIHYX Calamos High IncomePairCorr
  1.0CIHEX Calamos Hedged EquityPairCorr
  0.92CISOX Calamos InternationalPairCorr
  0.98CMNIX Calamos Market NeutralPairCorr
  0.93CMRCX Columbia Marsico GrowthPairCorr
  0.94CMRAX Columbia Large CapPairCorr
  0.94CMRGX Calamos Investment TrustPairCorr
  0.96CNWIX Calamos Evolving WorldPairCorr
  0.95CNWDX Calamos Evolving WorldPairCorr
  0.98CPCLX Calamos Phineus LongshortPairCorr

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   
TBFIX
+ 0.97
GSGOX
TWACX
+ 0.73
SGAXX
TWACX
+ 0.58
TBFIX
TWACX
+ 0.51
GFAXX
BBINX
+ 0.48
GSGOX
BBINX
+ 0.47
TBFIX
  
High negative correlations   
GFAXX
- 0.25
GSGOX
BBINX
- 0.2
SGAXX
GFAXX
- 0.11
TBFIX
SGAXX
- 0.05
GSGOX

Risk-Adjusted Indicators

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