Correlation Between HUMANA and Lord Abbett
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and Lord Abbett Government, you can compare the effects of market volatilities on HUMANA and Lord Abbett 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 Lord Abbett. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Lord Abbett.
Diversification Opportunities for HUMANA and Lord Abbett
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Lord is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Lord Abbett Government in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lord Abbett Government 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 Lord Abbett. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lord Abbett Government has no effect on the direction of HUMANA i.e., HUMANA and Lord Abbett go up and down completely randomly.
Pair Corralation between HUMANA and Lord Abbett
If you would invest 100.00 in Lord Abbett Government on November 27, 2024 and sell it today you would earn a total of 0.00 from holding Lord Abbett Government or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
HUMANA INC vs. Lord Abbett Government
Performance |
| Timeline |
| HUMANA INC |
| Lord Abbett Government |
HUMANA and Lord Abbett Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Lord Abbett
The main advantage of trading using opposite HUMANA and Lord Abbett positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Lord Abbett 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 Lord Abbett will offset losses from the drop in Lord Abbett's long position.| HUMANA vs. Amkor Technology | HUMANA vs. Primo Brands | HUMANA vs. The Coca Cola | HUMANA vs. Brandywine Realty Trust |
| Lord Abbett vs. Neuberger Berman High | Lord Abbett vs. Aquagold International | Lord Abbett vs. Morningstar Unconstrained Allocation | Lord Abbett vs. Thrivent High Yield |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments |