Correlation Between HUMANA and China Clean
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and China Clean Energy, you can compare the effects of market volatilities on HUMANA and China Clean 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 China Clean. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and China Clean.
Diversification Opportunities for HUMANA and China Clean
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and China Clean Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Clean Energy 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 China Clean. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Clean Energy has no effect on the direction of HUMANA i.e., HUMANA and China Clean go up and down completely randomly.
Pair Corralation between HUMANA and China Clean
If you would invest 0.01 in China Clean Energy on August 27, 2024 and sell it today you would earn a total of 0.00 from holding China Clean Energy or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
HUMANA INC vs. China Clean Energy
Performance |
| Timeline |
| HUMANA INC |
| China Clean Energy |
HUMANA and China Clean Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and China Clean
The main advantage of trading using opposite HUMANA and China Clean positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, China Clean 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 China Clean will offset losses from the drop in China Clean's long position.| HUMANA vs. Ultra Clean Holdings | HUMANA vs. Dream Homes Development | HUMANA vs. JBG SMITH Properties | HUMANA vs. Allegheny Technologies Incorporated |
| China Clean vs. First Graphene | China Clean vs. HUMANA INC | China Clean vs. Aquagold International | China Clean vs. Barloworld Ltd ADR |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |