Correlation Between HUMANA and Ivy E
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By analyzing existing cross correlation between HUMANA INC and Ivy E Equity, you can compare the effects of market volatilities on HUMANA and Ivy E 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 Ivy E. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Ivy E.
Diversification Opportunities for HUMANA and Ivy E
Pay attention - limited upside
The 3 months correlation between HUMANA and Ivy is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Ivy E Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ivy E Equity 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 Ivy E. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ivy E Equity has no effect on the direction of HUMANA i.e., HUMANA and Ivy E go up and down completely randomly.
Pair Corralation between HUMANA and Ivy E
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Ivy E. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC is 1.51 times less risky than Ivy E. The bond trades about -0.01 of its potential returns per unit of risk. The Ivy E Equity is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 1,911 in Ivy E Equity on August 28, 2024 and sell it today you would earn a total of 519.00 from holding Ivy E Equity or generate 27.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 97.12% |
| Values | Daily Returns |
HUMANA INC vs. Ivy E Equity
Performance |
| Timeline |
| HUMANA INC |
| Ivy E Equity |
HUMANA and Ivy E Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Ivy E
The main advantage of trading using opposite HUMANA and Ivy E positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Ivy E 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 Ivy E will offset losses from the drop in Ivy E's long position.| HUMANA vs. Zhihu Inc ADR | HUMANA vs. National CineMedia | HUMANA vs. Comstock Holding Companies | HUMANA vs. PennantPark Investment |
| Ivy E vs. Rbb Fund | Ivy E vs. Aam Select Income | Ivy E vs. Ab Value Fund | Ivy E vs. Western Asset Municipal |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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