Correlation Between HUMANA and Investec
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By analyzing existing cross correlation between HUMANA INC and Investec Group, you can compare the effects of market volatilities on HUMANA and Investec 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 Investec. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Investec.
Diversification Opportunities for HUMANA and Investec
Good diversification
The 3 months correlation between HUMANA and Investec is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Investec Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investec Group 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 Investec. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investec Group has no effect on the direction of HUMANA i.e., HUMANA and Investec go up and down completely randomly.
Pair Corralation between HUMANA and Investec
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Investec. In addition to that, HUMANA is 1.25 times more volatile than Investec Group. It trades about -0.2 of its total potential returns per unit of risk. Investec Group is currently generating about 0.21 per unit of volatility. If you would invest 1,062 in Investec Group on September 20, 2024 and sell it today you would earn a total of 42.00 from holding Investec Group or generate 3.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HUMANA INC vs. Investec Group
Performance |
| Timeline |
| HUMANA INC |
| Investec Group |
HUMANA and Investec Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Investec
The main advantage of trading using opposite HUMANA and Investec positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Investec 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 Investec will offset losses from the drop in Investec's long position.| HUMANA vs. Anheuser Busch Inbev | HUMANA vs. Vita Coco | HUMANA vs. Compania Cervecerias Unidas | HUMANA vs. Westinghouse Air Brake |
| Investec vs. SPENN Technology AS | Investec vs. OFX Group Ltd | Investec vs. HUMANA INC | Investec vs. Barloworld Ltd ADR |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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