Correlation Between Trustcash Holdings and HUMANA
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By analyzing existing cross correlation between Trustcash Holdings and HUMANA INC, you can compare the effects of market volatilities on Trustcash Holdings 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 Trustcash Holdings with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Trustcash Holdings and HUMANA.
Diversification Opportunities for Trustcash Holdings and HUMANA
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Trustcash and HUMANA is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Trustcash Holdings and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Trustcash Holdings 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 Trustcash Holdings 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 Trustcash Holdings i.e., Trustcash Holdings and HUMANA go up and down completely randomly.
Pair Corralation between Trustcash Holdings and HUMANA
Given the investment horizon of 90 days Trustcash Holdings is expected to generate 193.76 times more return on investment than HUMANA. However, Trustcash Holdings is 193.76 times more volatile than HUMANA INC. It trades about 0.22 of its potential returns per unit of risk. HUMANA INC is currently generating about -0.19 per unit of risk. If you would invest 0.00 in Trustcash Holdings on September 13, 2024 and sell it today you would earn a total of 0.00 from holding Trustcash Holdings or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Trustcash Holdings vs. HUMANA INC
Performance |
| Timeline |
| Trustcash Holdings |
| HUMANA INC |
Trustcash Holdings and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Trustcash Holdings and HUMANA
The main advantage of trading using opposite Trustcash Holdings and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Trustcash Holdings 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.| Trustcash Holdings vs. Remote Dynamics | Trustcash Holdings vs. Wellstar International | Trustcash Holdings vs. Encounter Technologi | Trustcash Holdings vs. Health Sciences Gr |
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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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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