Correlation Between HUMANA and Futuretech
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By analyzing existing cross correlation between HUMANA INC and Futuretech II Acquisition, you can compare the effects of market volatilities on HUMANA and Futuretech 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 Futuretech. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Futuretech.
Diversification Opportunities for HUMANA and Futuretech
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between HUMANA and Futuretech is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Futuretech II Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Futuretech II 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 Futuretech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Futuretech II Acquisition has no effect on the direction of HUMANA i.e., HUMANA and Futuretech go up and down completely randomly.
Pair Corralation between HUMANA and Futuretech
If you would invest 1,105 in Futuretech II Acquisition on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Futuretech II Acquisition or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.91% |
| Values | Daily Returns |
HUMANA INC vs. Futuretech II Acquisition
Performance |
| Timeline |
| HUMANA INC |
| Futuretech II Acquisition |
HUMANA and Futuretech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Futuretech
The main advantage of trading using opposite HUMANA and Futuretech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Futuretech 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 Futuretech will offset losses from the drop in Futuretech's long position.The idea behind HUMANA INC and Futuretech II Acquisition pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Futuretech vs. Patria Latin American | Futuretech vs. ABIVAX Socit Anonyme | Futuretech vs. Pinnacle Sherman Multi Strategy | Futuretech vs. Morningstar Unconstrained Allocation |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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