Correlation Between Marblegate Acquisition and HUMANA
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By analyzing existing cross correlation between Marblegate Acquisition Corp and HUMANA INC, you can compare the effects of market volatilities on Marblegate 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 Marblegate Acquisition with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marblegate Acquisition and HUMANA.
Diversification Opportunities for Marblegate Acquisition and HUMANA
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Marblegate and HUMANA is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Marblegate 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 Marblegate 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 Marblegate 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 Marblegate Acquisition i.e., Marblegate Acquisition and HUMANA go up and down completely randomly.
Pair Corralation between Marblegate Acquisition and HUMANA
Assuming the 90 days horizon Marblegate Acquisition Corp is expected to under-perform the HUMANA. In addition to that, Marblegate Acquisition is 3.26 times more volatile than HUMANA INC. It trades about -0.05 of its total potential returns per unit of risk. HUMANA INC is currently generating about -0.16 per unit of volatility. If you would invest 8,198 in HUMANA INC on September 13, 2024 and sell it today you would lose (503.00) from holding HUMANA INC or give up 6.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 93.02% |
| Values | Daily Returns |
Marblegate Acquisition Corp vs. HUMANA INC
Performance |
| Timeline |
| Marblegate Acquisition |
| HUMANA INC |
Marblegate Acquisition and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marblegate Acquisition and HUMANA
The main advantage of trading using opposite Marblegate Acquisition and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marblegate 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.The idea behind Marblegate Acquisition Corp and HUMANA INC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| 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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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