Correlation Between HUMANA and Blackrock Inflation
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By analyzing existing cross correlation between HUMANA INC and Blackrock Inflation Protected, you can compare the effects of market volatilities on HUMANA and Blackrock Inflation 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 Blackrock Inflation. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Blackrock Inflation.
Diversification Opportunities for HUMANA and Blackrock Inflation
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between HUMANA and Blackrock is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Blackrock Inflation Protected in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackrock 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 Blackrock Inflation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackrock Inflation has no effect on the direction of HUMANA i.e., HUMANA and Blackrock Inflation go up and down completely randomly.
Pair Corralation between HUMANA and Blackrock Inflation
Assuming the 90 days trading horizon HUMANA is expected to generate 2.59 times less return on investment than Blackrock Inflation. In addition to that, HUMANA is 1.97 times more volatile than Blackrock Inflation Protected. It trades about 0.02 of its total potential returns per unit of risk. Blackrock Inflation Protected is currently generating about 0.08 per unit of volatility. If you would invest 914.00 in Blackrock Inflation Protected on September 1, 2024 and sell it today you would earn a total of 66.00 from holding Blackrock Inflation Protected or generate 7.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 97.77% |
| Values | Daily Returns |
HUMANA INC vs. Blackrock Inflation Protected
Performance |
| Timeline |
| HUMANA INC |
| Blackrock Inflation |
HUMANA and Blackrock Inflation Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Blackrock Inflation
The main advantage of trading using opposite HUMANA and Blackrock Inflation positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Blackrock Inflation 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 Blackrock Inflation will offset losses from the drop in Blackrock Inflation's long position.| HUMANA vs. NI Holdings | HUMANA vs. Naked Wines plc | HUMANA vs. Kinsale Capital Group | HUMANA vs. Diageo PLC ADR |
| Blackrock Inflation vs. Blackrock California Municipal | Blackrock Inflation vs. Blackrock Balanced Capital | Blackrock Inflation vs. Blackrock Eurofund Class | Blackrock Inflation vs. Blackrock Funds |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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