Correlation Between HUMANA and Flag Ship
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By analyzing existing cross correlation between HUMANA INC and Flag Ship Acquisition, you can compare the effects of market volatilities on HUMANA and Flag Ship 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 Flag Ship. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Flag Ship.
Diversification Opportunities for HUMANA and Flag Ship
Very good diversification
The 3 months correlation between HUMANA and Flag is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Flag Ship Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flag Ship Acquisition 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 Flag Ship. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flag Ship Acquisition has no effect on the direction of HUMANA i.e., HUMANA and Flag Ship go up and down completely randomly.
Pair Corralation between HUMANA and Flag Ship
If you would invest 1,014 in Flag Ship Acquisition on September 13, 2024 and sell it today you would earn a total of 0.00 from holding Flag Ship Acquisition or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
HUMANA INC vs. Flag Ship Acquisition
Performance |
| Timeline |
| HUMANA INC |
| Flag Ship Acquisition |
HUMANA and Flag Ship Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Flag Ship
The main advantage of trading using opposite HUMANA and Flag Ship positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Flag Ship 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 Flag Ship will offset losses from the drop in Flag Ship's long position.| HUMANA vs. Morgan Stanley | HUMANA vs. Infosys Ltd ADR | HUMANA vs. Citizens Bancorp Investment | HUMANA vs. Small Cap Premium |
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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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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