Correlation Between HUMANA and China Sun
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By analyzing existing cross correlation between HUMANA INC and China Sun Grp, you can compare the effects of market volatilities on HUMANA and China Sun 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 Sun. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and China Sun.
Diversification Opportunities for HUMANA and China Sun
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 Sun Grp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Sun Grp 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 Sun. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Sun Grp has no effect on the direction of HUMANA i.e., HUMANA and China Sun go up and down completely randomly.
Pair Corralation between HUMANA and China Sun
If you would invest 7,898 in HUMANA INC on September 3, 2024 and sell it today you would earn a total of 137.00 from holding HUMANA INC or generate 1.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 97.58% |
| Values | Daily Returns |
HUMANA INC vs. China Sun Grp
Performance |
| Timeline |
| HUMANA INC |
| China Sun Grp |
HUMANA and China Sun Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and China Sun
The main advantage of trading using opposite HUMANA and China Sun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, China Sun 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 Sun will offset losses from the drop in China Sun's long position.| HUMANA vs. JetBlue Airways Corp | HUMANA vs. Air Transport Services | HUMANA vs. Sun Life Financial | HUMANA vs. Bank of America |
| China Sun vs. Curtis Mathes Corp | China Sun vs. alpha En | China Sun vs. Ieh Corp | China Sun vs. Methode Electronics |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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