Correlation Between HUMANA and Ashmore Emerging
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and Ashmore Emerging Markets, you can compare the effects of market volatilities on HUMANA and Ashmore Emerging 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 Ashmore Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Ashmore Emerging.
Diversification Opportunities for HUMANA and Ashmore Emerging
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Ashmore is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Ashmore Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ashmore Emerging Markets 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 Ashmore Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ashmore Emerging Markets has no effect on the direction of HUMANA i.e., HUMANA and Ashmore Emerging go up and down completely randomly.
Pair Corralation between HUMANA and Ashmore Emerging
If you would invest 0.00 in Ashmore Emerging Markets on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Ashmore Emerging Markets or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
HUMANA INC vs. Ashmore Emerging Markets
Performance |
| Timeline |
| HUMANA INC |
| Ashmore Emerging Markets |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
HUMANA and Ashmore Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Ashmore Emerging
The main advantage of trading using opposite HUMANA and Ashmore Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Ashmore Emerging 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 Ashmore Emerging will offset losses from the drop in Ashmore Emerging's long position.| HUMANA vs. Brandywine Realty Trust | HUMANA vs. Celsius Holdings | HUMANA vs. Uber Technologies | HUMANA vs. PepsiCo |
| Ashmore Emerging vs. Chase Growth Fund | Ashmore Emerging vs. L Abbett Growth | Ashmore Emerging vs. Ab Small Cap | Ashmore Emerging vs. Eip Growth And |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |