Correlation Between MicroAlgo and HUMANA
Specify exactly 2 symbols:
By analyzing existing cross correlation between MicroAlgo and HUMANA INC, you can compare the effects of market volatilities on MicroAlgo 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 MicroAlgo with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of MicroAlgo and HUMANA.
Diversification Opportunities for MicroAlgo and HUMANA
Very weak diversification
The 3 months correlation between MicroAlgo and HUMANA is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding MicroAlgo and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and MicroAlgo 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 MicroAlgo 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 MicroAlgo i.e., MicroAlgo and HUMANA go up and down completely randomly.
Pair Corralation between MicroAlgo and HUMANA
Given the investment horizon of 90 days MicroAlgo is expected to under-perform the HUMANA. In addition to that, MicroAlgo is 15.03 times more volatile than HUMANA INC. It trades about -0.04 of its total potential returns per unit of risk. HUMANA INC is currently generating about -0.15 per unit of volatility. If you would invest 8,137 in HUMANA INC on August 26, 2024 and sell it today you would lose (102.00) from holding HUMANA INC or give up 1.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
MicroAlgo vs. HUMANA INC
Performance |
| Timeline |
| MicroAlgo |
| HUMANA INC |
MicroAlgo and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MicroAlgo and HUMANA
The main advantage of trading using opposite MicroAlgo and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MicroAlgo 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.| MicroAlgo vs. NetScout Systems | MicroAlgo vs. Consensus Cloud Solutions | MicroAlgo vs. CSG Systems International | MicroAlgo vs. Evertec |
| HUMANA vs. Balchem | HUMANA vs. Stepan Company | HUMANA vs. Videolocity International | HUMANA vs. Luxfer Holdings PLC |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |