Correlation Between HUMANA and Internet Infinity
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By analyzing existing cross correlation between HUMANA INC and Internet Infinity, you can compare the effects of market volatilities on HUMANA and Internet Infinity 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 Internet Infinity. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Internet Infinity.
Diversification Opportunities for HUMANA and Internet Infinity
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between HUMANA and Internet is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Internet Infinity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Internet Infinity 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 Internet Infinity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Internet Infinity has no effect on the direction of HUMANA i.e., HUMANA and Internet Infinity go up and down completely randomly.
Pair Corralation between HUMANA and Internet Infinity
Assuming the 90 days trading horizon HUMANA INC is expected to generate 7.05 times more return on investment than Internet Infinity. However, HUMANA is 7.05 times more volatile than Internet Infinity. It trades about 0.07 of its potential returns per unit of risk. Internet Infinity is currently generating about 0.04 per unit of risk. If you would invest 7,840 in HUMANA INC on September 14, 2024 and sell it today you would lose (145.00) from holding HUMANA INC or give up 1.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 93.94% |
| Values | Daily Returns |
HUMANA INC vs. Internet Infinity
Performance |
| Timeline |
| HUMANA INC |
| Internet Infinity |
HUMANA and Internet Infinity Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Internet Infinity
The main advantage of trading using opposite HUMANA and Internet Infinity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Internet Infinity 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 Internet Infinity will offset losses from the drop in Internet Infinity's long position.| HUMANA vs. Doubledown Interactive Co | HUMANA vs. Golden Matrix Group | HUMANA vs. Skechers USA | HUMANA vs. NetEase |
| Internet Infinity vs. Voxtur Analytics Corp | Internet Infinity vs. Fobi AI | Internet Infinity vs. HUMANA INC | Internet Infinity vs. Aquagold International |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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