Correlation Between HUMANA and Barings Emerging
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and Barings Emerging Markets, you can compare the effects of market volatilities on HUMANA and Barings Emerging 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 Barings Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Barings Emerging.
Diversification Opportunities for HUMANA and Barings Emerging
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between HUMANA and Barings is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Barings Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Barings Emerging Markets 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 Barings Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Barings Emerging Markets has no effect on the direction of HUMANA i.e., HUMANA and Barings Emerging go up and down completely randomly.
Pair Corralation between HUMANA and Barings Emerging
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Barings Emerging. In addition to that, HUMANA is 3.66 times more volatile than Barings Emerging Markets. It trades about -0.09 of its total potential returns per unit of risk. Barings Emerging Markets is currently generating about 0.23 per unit of volatility. If you would invest 747.00 in Barings Emerging Markets on November 27, 2024 and sell it today you would earn a total of 9.00 from holding Barings Emerging Markets or generate 1.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
HUMANA INC vs. Barings Emerging Markets
Performance |
| Timeline |
| HUMANA INC |
| Barings Emerging Markets |
HUMANA and Barings Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Barings Emerging
The main advantage of trading using opposite HUMANA and Barings Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Barings Emerging 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 Barings Emerging will offset losses from the drop in Barings Emerging's long position.| HUMANA vs. Amkor Technology | HUMANA vs. Primo Brands | HUMANA vs. The Coca Cola | HUMANA vs. Brandywine Realty Trust |
| Barings Emerging vs. Rbc Emerging Markets | Barings Emerging vs. Templeton Developing Markets | Barings Emerging vs. Locorr Market Trend | Barings Emerging vs. Calvert Developed Market |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. |