Correlation Between AlphaVest Acquisition and HUMANA
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By analyzing existing cross correlation between AlphaVest Acquisition Corp and HUMANA INC, you can compare the effects of market volatilities on AlphaVest Acquisition 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 AlphaVest Acquisition with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of AlphaVest Acquisition and HUMANA.
Diversification Opportunities for AlphaVest Acquisition and HUMANA
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AlphaVest and HUMANA is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding AlphaVest Acquisition Corp and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and AlphaVest Acquisition 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 AlphaVest Acquisition Corp 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 AlphaVest Acquisition i.e., AlphaVest Acquisition and HUMANA go up and down completely randomly.
Pair Corralation between AlphaVest Acquisition and HUMANA
Assuming the 90 days horizon AlphaVest Acquisition Corp is expected to generate 1.33 times more return on investment than HUMANA. However, AlphaVest Acquisition is 1.33 times more volatile than HUMANA INC. It trades about 0.11 of its potential returns per unit of risk. HUMANA INC is currently generating about 0.07 per unit of risk. If you would invest 0.00 in AlphaVest Acquisition Corp on September 13, 2024 and sell it today you would earn a total of 13.60 from holding AlphaVest Acquisition Corp or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 57.11% |
| Values | Daily Returns |
AlphaVest Acquisition Corp vs. HUMANA INC
Performance |
| Timeline |
| AlphaVest Acquisition |
| HUMANA INC |
AlphaVest Acquisition and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AlphaVest Acquisition and HUMANA
The main advantage of trading using opposite AlphaVest Acquisition and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AlphaVest Acquisition 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.| AlphaVest Acquisition vs. Visa Class A | AlphaVest Acquisition vs. Diamond Hill Investment | AlphaVest Acquisition vs. Distoken Acquisition | AlphaVest Acquisition vs. AllianceBernstein Holding LP |
| HUMANA vs. Morgan Stanley | HUMANA vs. Infosys Ltd ADR | HUMANA vs. Citizens Bancorp Investment | HUMANA vs. Small Cap Premium |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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