Correlation Between HUMANA and Dfa Five-year
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By analyzing existing cross correlation between HUMANA INC and Dfa Five Year Global, you can compare the effects of market volatilities on HUMANA and Dfa Five-year 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 Dfa Five-year. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Dfa Five-year.
Diversification Opportunities for HUMANA and Dfa Five-year
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Dfa is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Dfa Five Year Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dfa Five Year 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 Dfa Five-year. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dfa Five Year has no effect on the direction of HUMANA i.e., HUMANA and Dfa Five-year go up and down completely randomly.
Pair Corralation between HUMANA and Dfa Five-year
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Dfa Five-year. In addition to that, HUMANA is 29.03 times more volatile than Dfa Five Year Global. It trades about -0.21 of its total potential returns per unit of risk. Dfa Five Year Global is currently generating about 0.46 per unit of volatility. If you would invest 1,013 in Dfa Five Year Global on August 31, 2024 and sell it today you would earn a total of 4.00 from holding Dfa Five Year Global or generate 0.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
HUMANA INC vs. Dfa Five Year Global
Performance |
| Timeline |
| HUMANA INC |
| Dfa Five Year |
HUMANA and Dfa Five-year Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Dfa Five-year
The main advantage of trading using opposite HUMANA and Dfa Five-year positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Dfa Five-year 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 Dfa Five-year will offset losses from the drop in Dfa Five-year's long position.| HUMANA vs. Air Products and | HUMANA vs. GE Vernova LLC | HUMANA vs. Aris Water Solutions | HUMANA vs. Pure Cycle |
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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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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