Correlation Between HUMANA and Lifex Inflation-protec
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By analyzing existing cross correlation between HUMANA INC and Lifex Inflation Protected Income, you can compare the effects of market volatilities on HUMANA and Lifex Inflation-protec 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 Lifex Inflation-protec. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Lifex Inflation-protec.
Diversification Opportunities for HUMANA and Lifex Inflation-protec
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between HUMANA and Lifex is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Lifex Inflation Protected Inco in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lifex Inflation-protec 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 Lifex Inflation-protec. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lifex Inflation-protec has no effect on the direction of HUMANA i.e., HUMANA and Lifex Inflation-protec go up and down completely randomly.
Pair Corralation between HUMANA and Lifex Inflation-protec
If you would invest 2,743 in Lifex Inflation Protected Income on September 4, 2024 and sell it today you would earn a total of 0.00 from holding Lifex Inflation Protected Income or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 61.11% |
| Values | Daily Returns |
HUMANA INC vs. Lifex Inflation Protected Inco
Performance |
| Timeline |
| HUMANA INC |
| Lifex Inflation-protec |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
HUMANA and Lifex Inflation-protec Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Lifex Inflation-protec
The main advantage of trading using opposite HUMANA and Lifex Inflation-protec positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Lifex Inflation-protec 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 Lifex Inflation-protec will offset losses from the drop in Lifex Inflation-protec's long position.| HUMANA vs. Usio Inc | HUMANA vs. MACOM Technology Solutions | HUMANA vs. Amkor Technology | HUMANA vs. Analog Devices |
| Lifex Inflation-protec vs. HUMANA INC | Lifex Inflation-protec vs. Aquagold International | Lifex Inflation-protec vs. Barloworld Ltd ADR | Lifex Inflation-protec vs. Morningstar Unconstrained Allocation |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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