Correlation Between HUMANA and Us Vector
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By analyzing existing cross correlation between HUMANA INC and Us Vector Equity, you can compare the effects of market volatilities on HUMANA and Us Vector 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 Us Vector. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Us Vector.
Diversification Opportunities for HUMANA and Us Vector
Excellent diversification
The 3 months correlation between HUMANA and DFVEX is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Us Vector Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Us Vector Equity 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 Us Vector. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Us Vector Equity has no effect on the direction of HUMANA i.e., HUMANA and Us Vector go up and down completely randomly.
Pair Corralation between HUMANA and Us Vector
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Us Vector. In addition to that, HUMANA is 1.1 times more volatile than Us Vector Equity. It trades about -0.21 of its total potential returns per unit of risk. Us Vector Equity is currently generating about 0.35 per unit of volatility. If you would invest 2,692 in Us Vector Equity on September 1, 2024 and sell it today you would earn a total of 215.00 from holding Us Vector Equity or generate 7.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
HUMANA INC vs. Us Vector Equity
Performance |
| Timeline |
| HUMANA INC |
| Us Vector Equity |
HUMANA and Us Vector Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Us Vector
The main advantage of trading using opposite HUMANA and Us Vector positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Us Vector 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 Us Vector will offset losses from the drop in Us Vector's long position.| HUMANA vs. NI Holdings | HUMANA vs. Naked Wines plc | HUMANA vs. Kinsale Capital Group | HUMANA vs. Diageo PLC ADR |
| Us Vector vs. T Rowe Price | Us Vector vs. Oklahoma Municipal Fund | Us Vector vs. Ishares Municipal Bond | Us Vector vs. T Rowe Price |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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