Correlation Between Peoples Insurance and HUMANA
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By analyzing existing cross correlation between The Peoples Insurance and HUMANA INC, you can compare the effects of market volatilities on Peoples Insurance 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 Peoples Insurance with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Peoples Insurance and HUMANA.
Diversification Opportunities for Peoples Insurance and HUMANA
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Peoples and HUMANA is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding The Peoples Insurance and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Peoples Insurance 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 The Peoples Insurance 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 Peoples Insurance i.e., Peoples Insurance and HUMANA go up and down completely randomly.
Pair Corralation between Peoples Insurance and HUMANA
If you would invest 7,946 in HUMANA INC on November 5, 2024 and sell it today you would earn a total of 498.00 from holding HUMANA INC or generate 6.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
The Peoples Insurance vs. HUMANA INC
Performance |
| Timeline |
| Peoples Insurance |
| HUMANA INC |
Peoples Insurance and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Peoples Insurance and HUMANA
The main advantage of trading using opposite Peoples Insurance and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Peoples Insurance 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.| Peoples Insurance vs. Progressive Corp | Peoples Insurance vs. Chubb | Peoples Insurance vs. The Travelers Companies | Peoples Insurance vs. The Allstate |
| HUMANA vs. Treasury Wine Estates | HUMANA vs. Two Harbors Investments | HUMANA vs. PepsiCo | HUMANA vs. PennantPark Investment |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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