Correlation Between Mars Acquisition and HUMANA
Specify exactly 2 symbols:
By analyzing existing cross correlation between Mars Acquisition Corp and HUMANA INC, you can compare the effects of market volatilities on Mars 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 Mars Acquisition with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mars Acquisition and HUMANA.
Diversification Opportunities for Mars Acquisition and HUMANA
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Mars and HUMANA is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Mars 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 Mars 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 Mars 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 Mars Acquisition i.e., Mars Acquisition and HUMANA go up and down completely randomly.
Pair Corralation between Mars Acquisition and HUMANA
Assuming the 90 days horizon Mars Acquisition Corp is expected to under-perform the HUMANA. In addition to that, Mars Acquisition is 3.12 times more volatile than HUMANA INC. It trades about -0.1 of its total potential returns per unit of risk. HUMANA INC is currently generating about -0.19 per unit of volatility. If you would invest 8,064 in HUMANA INC on September 13, 2024 and sell it today you would lose (369.00) from holding HUMANA INC or give up 4.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mars Acquisition Corp vs. HUMANA INC
Performance |
| Timeline |
| Mars Acquisition Corp |
| HUMANA INC |
Mars Acquisition and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mars Acquisition and HUMANA
The main advantage of trading using opposite Mars Acquisition and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mars 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.| Mars Acquisition vs. Visa Class A | Mars Acquisition vs. Diamond Hill Investment | Mars Acquisition vs. Distoken Acquisition | Mars Acquisition vs. AllianceBernstein Holding LP |
| 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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Other Complementary Tools
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |