Correlation Between GoHealth and 191216CU2
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By analyzing existing cross correlation between GoHealth and COCA COLA CO, you can compare the effects of market volatilities on GoHealth and 191216CU2 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 GoHealth with a short position of 191216CU2. Check out your portfolio center. Please also check ongoing floating volatility patterns of GoHealth and 191216CU2.
Diversification Opportunities for GoHealth and 191216CU2
Pay attention - limited upside
The 3 months correlation between GoHealth and 191216CU2 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GoHealth and COCA COLA CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COCA A CO and GoHealth 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 GoHealth are associated (or correlated) with 191216CU2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COCA A CO has no effect on the direction of GoHealth i.e., GoHealth and 191216CU2 go up and down completely randomly.
Pair Corralation between GoHealth and 191216CU2
Given the investment horizon of 90 days GoHealth is expected to generate 5.37 times more return on investment than 191216CU2. However, GoHealth is 5.37 times more volatile than COCA COLA CO. It trades about 0.11 of its potential returns per unit of risk. COCA COLA CO is currently generating about -0.01 per unit of risk. If you would invest 1,673 in GoHealth on November 29, 2024 and sell it today you would earn a total of 168.00 from holding GoHealth or generate 10.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
GoHealth vs. COCA COLA CO
Performance |
| Timeline |
| GoHealth |
| COCA A CO |
GoHealth and 191216CU2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GoHealth and 191216CU2
The main advantage of trading using opposite GoHealth and 191216CU2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GoHealth position performs unexpectedly, 191216CU2 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 191216CU2 will offset losses from the drop in 191216CU2's long position.| GoHealth vs. eHealth | GoHealth vs. Tian Ruixiang Holdings | GoHealth vs. Huize Holding | GoHealth vs. Selectquote |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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