Correlation Between HUMANA and Ab Global
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By analyzing existing cross correlation between HUMANA INC and Ab Global Risk, you can compare the effects of market volatilities on HUMANA and Ab Global 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 Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Ab Global.
Diversification Opportunities for HUMANA and Ab Global
Good diversification
The 3 months correlation between HUMANA and CABIX is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Ab Global Risk in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ab Global Risk 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 Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ab Global Risk has no effect on the direction of HUMANA i.e., HUMANA and Ab Global go up and down completely randomly.
Pair Corralation between HUMANA and Ab Global
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Ab Global. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC is 1.02 times less risky than Ab Global. The bond trades about -0.11 of its potential returns per unit of risk. The Ab Global Risk is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,778 in Ab Global Risk on August 27, 2024 and sell it today you would earn a total of 5.00 from holding Ab Global Risk or generate 0.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
HUMANA INC vs. Ab Global Risk
Performance |
| Timeline |
| HUMANA INC |
| Ab Global Risk |
HUMANA and Ab Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Ab Global
The main advantage of trading using opposite HUMANA and Ab Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Ab Global 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 Global will offset losses from the drop in Ab Global's long position.| HUMANA vs. Ultra Clean Holdings | HUMANA vs. Dream Homes Development | HUMANA vs. JBG SMITH Properties | HUMANA vs. Allegheny Technologies Incorporated |
| Ab Global vs. Ab Global E | Ab Global vs. Ab Global E | Ab Global vs. Ab Global E | Ab Global vs. Ab Minnesota Portfolio |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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