Correlation Between Axiologix and HUMANA
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By analyzing existing cross correlation between Axiologix and HUMANA INC, you can compare the effects of market volatilities on Axiologix 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 Axiologix with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Axiologix and HUMANA.
Diversification Opportunities for Axiologix and HUMANA
Pay attention - limited upside
The 3 months correlation between Axiologix and HUMANA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Axiologix and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Axiologix 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 Axiologix 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 Axiologix i.e., Axiologix and HUMANA go up and down completely randomly.
Pair Corralation between Axiologix and HUMANA
If you would invest 0.01 in Axiologix on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Axiologix or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 97.37% |
| Values | Daily Returns |
Axiologix vs. HUMANA INC
Performance |
| Timeline |
| Axiologix |
| HUMANA INC |
Axiologix and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Axiologix and HUMANA
The main advantage of trading using opposite Axiologix and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Axiologix 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.| Axiologix vs. BCE Inc | Axiologix vs. Advanced Info Service | Axiologix vs. American Nortel Communications |
| HUMANA vs. JetBlue Airways Corp | HUMANA vs. Air Transport Services | HUMANA vs. Sun Life Financial | HUMANA vs. Bank of America |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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