Correlation Between HUMANA and FitLife Brands,
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By analyzing existing cross correlation between HUMANA INC 395 and FitLife Brands, Common, you can compare the effects of market volatilities on HUMANA and FitLife Brands, 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 HUMANA with a short position of FitLife Brands,. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and FitLife Brands,.
Diversification Opportunities for HUMANA and FitLife Brands,
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between HUMANA and FitLife is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC 395 and FitLife Brands, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FitLife Brands, Common and HUMANA 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 HUMANA INC 395 are associated (or correlated) with FitLife Brands,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FitLife Brands, Common has no effect on the direction of HUMANA i.e., HUMANA and FitLife Brands, go up and down completely randomly.
Pair Corralation between HUMANA and FitLife Brands,
Assuming the 90 days trading horizon HUMANA INC 395 is expected to under-perform the FitLife Brands,. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC 395 is 8.93 times less risky than FitLife Brands,. The bond trades about -0.04 of its potential returns per unit of risk. The FitLife Brands, Common is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 3,165 in FitLife Brands, Common on September 1, 2024 and sell it today you would earn a total of 208.00 from holding FitLife Brands, Common or generate 6.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
HUMANA INC 395 vs. FitLife Brands, Common
Performance |
| Timeline |
| HUMANA INC 5 |
| FitLife Brands, Common |
HUMANA and FitLife Brands, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and FitLife Brands,
The main advantage of trading using opposite HUMANA and FitLife Brands, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, FitLife Brands, 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 FitLife Brands, will offset losses from the drop in FitLife Brands,'s long position.| HUMANA vs. MI Homes | HUMANA vs. Lifevantage | HUMANA vs. Cabo Drilling Corp | HUMANA vs. FitLife Brands, Common |
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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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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