Correlation Between HUMANA and FLFR
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By analyzing existing cross correlation between HUMANA INC and FLFR, you can compare the effects of market volatilities on HUMANA and FLFR 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 FLFR. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and FLFR.
Diversification Opportunities for HUMANA and FLFR
Average diversification
The 3 months correlation between HUMANA and FLFR is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and FLFR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FLFR 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 FLFR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FLFR has no effect on the direction of HUMANA i.e., HUMANA and FLFR go up and down completely randomly.
Pair Corralation between HUMANA and FLFR
If you would invest 8,014 in HUMANA INC on September 3, 2024 and sell it today you would earn a total of 21.00 from holding HUMANA INC or generate 0.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 0.82% |
| Values | Daily Returns |
HUMANA INC vs. FLFR
Performance |
| Timeline |
| HUMANA INC |
| FLFR |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
HUMANA and FLFR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and FLFR
The main advantage of trading using opposite HUMANA and FLFR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, FLFR 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 FLFR will offset losses from the drop in FLFR's long position.| HUMANA vs. JetBlue Airways Corp | HUMANA vs. Air Transport Services | HUMANA vs. Sun Life Financial | HUMANA vs. Bank of America |
| FLFR vs. Franklin FTSE Germany | FLFR vs. Franklin FTSE United | FLFR vs. Franklin FTSE Mexico | FLFR vs. Franklin FTSE Australia |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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