Correlation Between HUMANA and FDG Electric
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By analyzing existing cross correlation between HUMANA INC and FDG Electric Vehicles, you can compare the effects of market volatilities on HUMANA and FDG Electric 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 FDG Electric. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and FDG Electric.
Diversification Opportunities for HUMANA and FDG Electric
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and FDG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and FDG Electric Vehicles in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FDG Electric Vehicles 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 FDG Electric. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FDG Electric Vehicles has no effect on the direction of HUMANA i.e., HUMANA and FDG Electric go up and down completely randomly.
Pair Corralation between HUMANA and FDG Electric
If you would invest 0.01 in FDG Electric Vehicles on September 12, 2024 and sell it today you would earn a total of 0.00 from holding FDG Electric Vehicles or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.88% |
| Values | Daily Returns |
HUMANA INC vs. FDG Electric Vehicles
Performance |
| Timeline |
| HUMANA INC |
| FDG Electric Vehicles |
HUMANA and FDG Electric Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and FDG Electric
The main advantage of trading using opposite HUMANA and FDG Electric positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, FDG Electric 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 FDG Electric will offset losses from the drop in FDG Electric's long position.| HUMANA vs. Morgan Stanley | HUMANA vs. Infosys Ltd ADR | HUMANA vs. Citizens Bancorp Investment | HUMANA vs. Small Cap Premium |
| FDG Electric vs. TFI International | FDG Electric vs. Hudson Pacific Properties | FDG Electric vs. Proficient Auto Logistics, | FDG Electric vs. United Rentals |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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