Correlation Between HUMANA and Ab Bond
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By analyzing existing cross correlation between HUMANA INC and Ab Bond Inflation, you can compare the effects of market volatilities on HUMANA and Ab Bond 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 Ab Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Ab Bond.
Diversification Opportunities for HUMANA and Ab Bond
Modest diversification
The 3 months correlation between HUMANA and ABNTX is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Ab Bond Inflation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab Bond Inflation 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 are associated (or correlated) with Ab Bond. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab Bond Inflation has no effect on the direction of HUMANA i.e., HUMANA and Ab Bond go up and down completely randomly.
Pair Corralation between HUMANA and Ab Bond
Assuming the 90 days trading horizon HUMANA is expected to generate 2.89 times less return on investment than Ab Bond. In addition to that, HUMANA is 2.58 times more volatile than Ab Bond Inflation. It trades about 0.02 of its total potential returns per unit of risk. Ab Bond Inflation is currently generating about 0.12 per unit of volatility. If you would invest 941.00 in Ab Bond Inflation on September 1, 2024 and sell it today you would earn a total of 77.00 from holding Ab Bond Inflation or generate 8.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 97.77% |
| Values | Daily Returns |
HUMANA INC vs. Ab Bond Inflation
Performance |
| Timeline |
| HUMANA INC |
| Ab Bond Inflation |
HUMANA and Ab Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Ab Bond
The main advantage of trading using opposite HUMANA and Ab Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Ab Bond 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 Ab Bond will offset losses from the drop in Ab Bond's long position.| HUMANA vs. NI Holdings | HUMANA vs. Naked Wines plc | HUMANA vs. Kinsale Capital Group | HUMANA vs. Diageo PLC ADR |
| Ab Bond vs. Sprott Gold Equity | Ab Bond vs. Short Precious Metals | Ab Bond vs. Great West Goldman Sachs | Ab Bond vs. Goldman Sachs Esg |
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 Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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