Correlation Between HUMANA and Green Stream
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By analyzing existing cross correlation between HUMANA INC and Green Stream Holdings, you can compare the effects of market volatilities on HUMANA and Green Stream 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 Green Stream. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Green Stream.
Diversification Opportunities for HUMANA and Green Stream
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Green is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Green Stream Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Green Stream Holdings 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 Green Stream. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Green Stream Holdings has no effect on the direction of HUMANA i.e., HUMANA and Green Stream go up and down completely randomly.
Pair Corralation between HUMANA and Green Stream
If you would invest 0.01 in Green Stream Holdings on August 31, 2024 and sell it today you would earn a total of 0.00 from holding Green Stream Holdings or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
HUMANA INC vs. Green Stream Holdings
Performance |
| Timeline |
| HUMANA INC |
| Green Stream Holdings |
HUMANA and Green Stream Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Green Stream
The main advantage of trading using opposite HUMANA and Green Stream positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Green Stream 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 Green Stream will offset losses from the drop in Green Stream's long position.| HUMANA vs. Air Products and | HUMANA vs. GE Vernova LLC | HUMANA vs. Aris Water Solutions | HUMANA vs. Pure Cycle |
| Green Stream vs. Constellation Energy Corp | Green Stream vs. Orsted AS ADR | Green Stream vs. Orsted AS | Green Stream vs. HUMANA INC |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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