Correlation Between Short-term Fund and HUMANA
Specify exactly 2 symbols:
By analyzing existing cross correlation between Short Term Fund Administrative and HUMANA INC, you can compare the effects of market volatilities on Short-term Fund 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 Short-term Fund with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Short-term Fund and HUMANA.
Diversification Opportunities for Short-term Fund and HUMANA
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Short-term and HUMANA is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Fund Administrative and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Short-term Fund 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 Short Term Fund Administrative 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 Short-term Fund i.e., Short-term Fund and HUMANA go up and down completely randomly.
Pair Corralation between Short-term Fund and HUMANA
Assuming the 90 days horizon Short Term Fund Administrative is expected to generate 0.11 times more return on investment than HUMANA. However, Short Term Fund Administrative is 9.46 times less risky than HUMANA. It trades about 0.23 of its potential returns per unit of risk. HUMANA INC is currently generating about -0.25 per unit of risk. If you would invest 961.00 in Short Term Fund Administrative on August 28, 2024 and sell it today you would earn a total of 5.00 from holding Short Term Fund Administrative or generate 0.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Short Term Fund Administrative vs. HUMANA INC
Performance |
| Timeline |
| Short Term Fund |
| HUMANA INC |
Short-term Fund and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Short-term Fund and HUMANA
The main advantage of trading using opposite Short-term Fund and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Short-term Fund 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.| Short-term Fund vs. Materials Portfolio Fidelity | Short-term Fund vs. Abr 7525 Volatility | Short-term Fund vs. Red Oak Technology | Short-term Fund vs. Qs Large Cap |
| HUMANA vs. Ultra Clean Holdings | HUMANA vs. Dream Homes Development | HUMANA vs. JBG SMITH Properties | HUMANA vs. Allegheny Technologies Incorporated |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |