Correlation Between ICTS International and HUMANA
Specify exactly 2 symbols:
By analyzing existing cross correlation between ICTS International NV and HUMANA INC, you can compare the effects of market volatilities on ICTS International 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 ICTS International with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of ICTS International and HUMANA.
Diversification Opportunities for ICTS International and HUMANA
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between ICTS and HUMANA is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding ICTS International NV and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and ICTS International 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 ICTS International NV 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 ICTS International i.e., ICTS International and HUMANA go up and down completely randomly.
Pair Corralation between ICTS International and HUMANA
Assuming the 90 days horizon ICTS International NV is expected to generate 7.26 times more return on investment than HUMANA. However, ICTS International is 7.26 times more volatile than HUMANA INC. It trades about 0.03 of its potential returns per unit of risk. HUMANA INC is currently generating about -0.04 per unit of risk. If you would invest 450.00 in ICTS International NV on September 12, 2024 and sell it today you would earn a total of 30.00 from holding ICTS International NV or generate 6.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.57% |
| Values | Daily Returns |
ICTS International NV vs. HUMANA INC
Performance |
| Timeline |
| ICTS International |
| HUMANA INC |
ICTS International and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ICTS International and HUMANA
The main advantage of trading using opposite ICTS International and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ICTS International 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.| ICTS International vs. HUMANA INC | ICTS International vs. Barloworld Ltd ADR | ICTS International vs. Morningstar Unconstrained Allocation | ICTS International vs. Thrivent High Yield |
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.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes |