Correlation Between Aquagold International and HUMANA
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By analyzing existing cross correlation between Aquagold International and HUMANA INC, you can compare the effects of market volatilities on Aquagold International and HUMANA 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 Aquagold International with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aquagold International and HUMANA.
Diversification Opportunities for Aquagold International and HUMANA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aquagold and HUMANA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aquagold International and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Aquagold International 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 Aquagold International are associated (or correlated) with HUMANA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HUMANA INC has no effect on the direction of Aquagold International i.e., Aquagold International and HUMANA go up and down completely randomly.
Pair Corralation between Aquagold International and HUMANA
If you would invest 7,867 in HUMANA INC on August 23, 2024 and sell it today you would earn a total of 168.00 from holding HUMANA INC or generate 2.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.77% |
| Values | Daily Returns |
Aquagold International vs. HUMANA INC
Performance |
| Timeline |
| Aquagold International |
| HUMANA INC |
Aquagold International and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aquagold International and HUMANA
The main advantage of trading using opposite Aquagold International and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aquagold International position performs unexpectedly, HUMANA 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 HUMANA will offset losses from the drop in HUMANA's long position.| Aquagold International vs. PepsiCo | Aquagold International vs. Coca Cola Consolidated | Aquagold International vs. Monster Beverage Corp | Aquagold International vs. Celsius Holdings |
| HUMANA vs. Western Digital | HUMANA vs. Arrow Electronics | HUMANA vs. Anheuser Busch Inbev | HUMANA vs. Keurig Dr Pepper |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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