Correlation Between HUMANA and Ab All
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By analyzing existing cross correlation between HUMANA INC and Ab All Market, you can compare the effects of market volatilities on HUMANA and Ab All 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 All. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Ab All.
Diversification Opportunities for HUMANA and Ab All
Very good diversification
The 3 months correlation between HUMANA and AMTOX is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Ab All Market in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab All Market 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 All. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab All Market has no effect on the direction of HUMANA i.e., HUMANA and Ab All go up and down completely randomly.
Pair Corralation between HUMANA and Ab All
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Ab All. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC is 1.17 times less risky than Ab All. The bond trades about -0.01 of its potential returns per unit of risk. The Ab All Market is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 835.00 in Ab All Market on August 28, 2024 and sell it today you would earn a total of 95.00 from holding Ab All Market or generate 11.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.12% |
| Values | Daily Returns |
HUMANA INC vs. Ab All Market
Performance |
| Timeline |
| HUMANA INC |
| Ab All Market |
HUMANA and Ab All Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Ab All
The main advantage of trading using opposite HUMANA and Ab All positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Ab All 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 All will offset losses from the drop in Ab All's long position.| HUMANA vs. Zhihu Inc ADR | HUMANA vs. National CineMedia | HUMANA vs. Comstock Holding Companies | HUMANA vs. PennantPark Investment |
| Ab All vs. Short Duration Inflation | Ab All vs. Western Asset Inflation | Ab All vs. Ab Bond Inflation | Ab All vs. Vy Blackrock Inflation |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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