Correlation Between HUMANA and Flow Capital
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By analyzing existing cross correlation between HUMANA INC and Flow Capital Corp, you can compare the effects of market volatilities on HUMANA and Flow Capital 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 Flow Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Flow Capital.
Diversification Opportunities for HUMANA and Flow Capital
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between HUMANA and Flow is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Flow Capital Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flow Capital Corp 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 Flow Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flow Capital Corp has no effect on the direction of HUMANA i.e., HUMANA and Flow Capital go up and down completely randomly.
Pair Corralation between HUMANA and Flow Capital
If you would invest 61.00 in Flow Capital Corp on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Flow Capital Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
HUMANA INC vs. Flow Capital Corp
Performance |
| Timeline |
| HUMANA INC |
| Flow Capital Corp |
HUMANA and Flow Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Flow Capital
The main advantage of trading using opposite HUMANA and Flow Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Flow Capital 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 Flow Capital will offset losses from the drop in Flow Capital's long position.| HUMANA vs. NI Holdings | HUMANA vs. Naked Wines plc | HUMANA vs. Kinsale Capital Group | HUMANA vs. Diageo PLC ADR |
| Flow Capital vs. HUMANA INC | Flow Capital vs. SCOR PK | Flow Capital vs. Aquagold International | Flow Capital vs. Thrivent High Yield |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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