Correlation Between HUMANA and Zedcor
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By analyzing existing cross correlation between HUMANA INC and Zedcor Inc, you can compare the effects of market volatilities on HUMANA and Zedcor 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 Zedcor. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Zedcor.
Diversification Opportunities for HUMANA and Zedcor
Excellent diversification
The 3 months correlation between HUMANA and Zedcor is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Zedcor Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zedcor Inc 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 Zedcor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zedcor Inc has no effect on the direction of HUMANA i.e., HUMANA and Zedcor go up and down completely randomly.
Pair Corralation between HUMANA and Zedcor
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Zedcor. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC is 7.79 times less risky than Zedcor. The bond trades about -0.12 of its potential returns per unit of risk. The Zedcor Inc is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 136.00 in Zedcor Inc on September 3, 2024 and sell it today you would earn a total of 106.00 from holding Zedcor Inc or generate 77.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 93.02% |
| Values | Daily Returns |
HUMANA INC vs. Zedcor Inc
Performance |
| Timeline |
| HUMANA INC |
| Zedcor Inc |
HUMANA and Zedcor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Zedcor
The main advantage of trading using opposite HUMANA and Zedcor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Zedcor 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 Zedcor will offset losses from the drop in Zedcor's long position.| HUMANA vs. JetBlue Airways Corp | HUMANA vs. Air Transport Services | HUMANA vs. Sun Life Financial | HUMANA vs. Bank of America |
| Zedcor vs. TOMI Environmental Solutions | Zedcor vs. SCOR PK | Zedcor vs. HUMANA INC | Zedcor vs. Aquagold International |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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