Correlation Between Anchor Tactical and HUMANA
Specify exactly 2 symbols:
By analyzing existing cross correlation between Anchor Tactical Credit and HUMANA INC, you can compare the effects of market volatilities on Anchor Tactical 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 Anchor Tactical with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anchor Tactical and HUMANA.
Diversification Opportunities for Anchor Tactical and HUMANA
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Anchor and HUMANA is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Anchor Tactical Credit and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Anchor Tactical 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 Anchor Tactical Credit 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 Anchor Tactical i.e., Anchor Tactical and HUMANA go up and down completely randomly.
Pair Corralation between Anchor Tactical and HUMANA
Assuming the 90 days horizon Anchor Tactical is expected to generate 2.1 times less return on investment than HUMANA. But when comparing it to its historical volatility, Anchor Tactical Credit is 1.18 times less risky than HUMANA. It trades about 0.01 of its potential returns per unit of risk. HUMANA INC is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 7,914 in HUMANA INC on August 29, 2024 and sell it today you would earn a total of 121.00 from holding HUMANA INC or generate 1.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 96.83% |
| Values | Daily Returns |
Anchor Tactical Credit vs. HUMANA INC
Performance |
| Timeline |
| Anchor Tactical Credit |
| HUMANA INC |
Anchor Tactical and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anchor Tactical and HUMANA
The main advantage of trading using opposite Anchor Tactical and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anchor Tactical 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.| Anchor Tactical vs. HUMANA INC | Anchor Tactical vs. Aquagold International | Anchor Tactical vs. Barloworld Ltd ADR | Anchor Tactical vs. Morningstar Unconstrained Allocation |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Other Complementary Tools
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |