Correlation Between Kura Sushi and HUMANA
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kura Sushi USA and HUMANA INC, you can compare the effects of market volatilities on Kura Sushi 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 Kura Sushi with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kura Sushi and HUMANA.
Diversification Opportunities for Kura Sushi and HUMANA
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kura and HUMANA is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Kura Sushi USA and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Kura Sushi 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 Kura Sushi USA 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 Kura Sushi i.e., Kura Sushi and HUMANA go up and down completely randomly.
Pair Corralation between Kura Sushi and HUMANA
Given the investment horizon of 90 days Kura Sushi USA is expected to generate 7.0 times more return on investment than HUMANA. However, Kura Sushi is 7.0 times more volatile than HUMANA INC. It trades about 0.09 of its potential returns per unit of risk. HUMANA INC is currently generating about -0.07 per unit of risk. If you would invest 9,856 in Kura Sushi USA on August 29, 2024 and sell it today you would earn a total of 668.50 from holding Kura Sushi USA or generate 6.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 86.96% |
| Values | Daily Returns |
Kura Sushi USA vs. HUMANA INC
Performance |
| Timeline |
| Kura Sushi USA |
| HUMANA INC |
Kura Sushi and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kura Sushi and HUMANA
The main advantage of trading using opposite Kura Sushi and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kura Sushi 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.| Kura Sushi vs. Jack In The | Kura Sushi vs. Potbelly Co | Kura Sushi vs. BJs Restaurants | Kura Sushi vs. One Group Hospitality |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges |