Correlation Between HUMANA and Anchor Tactical
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and Anchor Tactical Credit, you can compare the effects of market volatilities on HUMANA and Anchor Tactical 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 Anchor Tactical. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Anchor Tactical.
Diversification Opportunities for HUMANA and Anchor Tactical
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between HUMANA and Anchor is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Anchor Tactical Credit in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anchor Tactical Credit 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 Anchor Tactical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anchor Tactical Credit has no effect on the direction of HUMANA i.e., HUMANA and Anchor Tactical go up and down completely randomly.
Pair Corralation between HUMANA and Anchor Tactical
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Anchor Tactical. In addition to that, HUMANA is 3.51 times more volatile than Anchor Tactical Credit. It trades about -0.16 of its total potential returns per unit of risk. Anchor Tactical Credit is currently generating about 0.18 per unit of volatility. If you would invest 852.00 in Anchor Tactical Credit on September 1, 2024 and sell it today you would earn a total of 14.00 from holding Anchor Tactical Credit or generate 1.64% 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. Anchor Tactical Credit
Performance |
| Timeline |
| HUMANA INC |
| Anchor Tactical Credit |
HUMANA and Anchor Tactical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Anchor Tactical
The main advantage of trading using opposite HUMANA and Anchor Tactical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Anchor Tactical 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 Anchor Tactical will offset losses from the drop in Anchor Tactical's long position.| HUMANA vs. NI Holdings | HUMANA vs. Naked Wines plc | HUMANA vs. Kinsale Capital Group | HUMANA vs. Diageo PLC ADR |
| Anchor Tactical vs. Anchor Risk Managed | Anchor Tactical vs. Anchor Risk Managed | Anchor Tactical vs. Anchor Tactical Equity | Anchor Tactical vs. Anchor Risk Managed |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |