Correlation Between HUMANA and Disciplined Growth
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By analyzing existing cross correlation between HUMANA INC and Disciplined Growth Fund, you can compare the effects of market volatilities on HUMANA and Disciplined Growth 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 Disciplined Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Disciplined Growth.
Diversification Opportunities for HUMANA and Disciplined Growth
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Disciplined is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Disciplined Growth Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Disciplined Growth 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 Disciplined Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Disciplined Growth has no effect on the direction of HUMANA i.e., HUMANA and Disciplined Growth go up and down completely randomly.
Pair Corralation between HUMANA and Disciplined Growth
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Disciplined Growth. In addition to that, HUMANA is 1.24 times more volatile than Disciplined Growth Fund. It trades about -0.21 of its total potential returns per unit of risk. Disciplined Growth Fund is currently generating about 0.29 per unit of volatility. If you would invest 2,973 in Disciplined Growth Fund on September 1, 2024 and sell it today you would earn a total of 182.00 from holding Disciplined Growth Fund or generate 6.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
HUMANA INC vs. Disciplined Growth Fund
Performance |
| Timeline |
| HUMANA INC |
| Disciplined Growth |
HUMANA and Disciplined Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Disciplined Growth
The main advantage of trading using opposite HUMANA and Disciplined Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Disciplined Growth 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 Disciplined Growth will offset losses from the drop in Disciplined Growth's long position.| HUMANA vs. NI Holdings | HUMANA vs. Naked Wines plc | HUMANA vs. Kinsale Capital Group | HUMANA vs. Diageo PLC ADR |
| Disciplined Growth vs. Growth Fund Investor | Disciplined Growth vs. Ultra Fund Investor | Disciplined Growth vs. Heritage Fund Investor | Disciplined Growth vs. International Growth Fund |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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