Correlation Between HUMANA and Lifevantage
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By analyzing existing cross correlation between HUMANA INC 395 and Lifevantage, you can compare the effects of market volatilities on HUMANA and Lifevantage 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 Lifevantage. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Lifevantage.
Diversification Opportunities for HUMANA and Lifevantage
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between HUMANA and Lifevantage is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC 395 and Lifevantage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lifevantage 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 Lifevantage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lifevantage has no effect on the direction of HUMANA i.e., HUMANA and Lifevantage go up and down completely randomly.
Pair Corralation between HUMANA and Lifevantage
Assuming the 90 days trading horizon HUMANA INC 395 is expected to under-perform the Lifevantage. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC 395 is 10.61 times less risky than Lifevantage. The bond trades about -0.04 of its potential returns per unit of risk. The Lifevantage is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 1,222 in Lifevantage on September 1, 2024 and sell it today you would earn a total of 239.00 from holding Lifevantage or generate 19.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
HUMANA INC 395 vs. Lifevantage
Performance |
| Timeline |
| HUMANA INC 5 |
| Lifevantage |
HUMANA and Lifevantage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Lifevantage
The main advantage of trading using opposite HUMANA and Lifevantage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Lifevantage 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 Lifevantage will offset losses from the drop in Lifevantage'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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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