Correlation Between HUMANA and Fpa Crescent
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By analyzing existing cross correlation between HUMANA INC and Fpa Crescent Fund, you can compare the effects of market volatilities on HUMANA and Fpa Crescent 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 Fpa Crescent. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Fpa Crescent.
Diversification Opportunities for HUMANA and Fpa Crescent
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between HUMANA and Fpa is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Fpa Crescent Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fpa Crescent 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 Fpa Crescent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fpa Crescent has no effect on the direction of HUMANA i.e., HUMANA and Fpa Crescent go up and down completely randomly.
Pair Corralation between HUMANA and Fpa Crescent
Assuming the 90 days trading horizon HUMANA INC is expected to generate 142.22 times more return on investment than Fpa Crescent. However, HUMANA is 142.22 times more volatile than Fpa Crescent Fund. It trades about 0.07 of its potential returns per unit of risk. Fpa Crescent Fund is currently generating about 0.08 per unit of risk. If you would invest 7,980 in HUMANA INC on September 1, 2024 and sell it today you would lose (285.00) from holding HUMANA INC or give up 3.57% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 94.51% |
| Values | Daily Returns |
HUMANA INC vs. Fpa Crescent Fund
Performance |
| Timeline |
| HUMANA INC |
| Fpa Crescent |
HUMANA and Fpa Crescent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Fpa Crescent
The main advantage of trading using opposite HUMANA and Fpa Crescent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Fpa Crescent 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 Fpa Crescent will offset losses from the drop in Fpa Crescent's long position.| HUMANA vs. NI Holdings | HUMANA vs. Naked Wines plc | HUMANA vs. Kinsale Capital Group | HUMANA vs. Diageo PLC ADR |
| Fpa Crescent vs. Permanent Portfolio Class | Fpa Crescent vs. Amg Yacktman Fund | Fpa Crescent vs. Berwyn Income Fund | Fpa Crescent vs. First Eagle Global |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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