Correlation Between HUMANA and Morgan Stanley
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By analyzing existing cross correlation between HUMANA INC and Morgan Stanley Institutional, you can compare the effects of market volatilities on HUMANA and Morgan Stanley 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 Morgan Stanley. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Morgan Stanley.
Diversification Opportunities for HUMANA and Morgan Stanley
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Morgan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Morgan Stanley Institutional in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Morgan Stanley Insti 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 Morgan Stanley. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Morgan Stanley Insti has no effect on the direction of HUMANA i.e., HUMANA and Morgan Stanley go up and down completely randomly.
Pair Corralation between HUMANA and Morgan Stanley
If you would invest 8,122 in HUMANA INC on November 27, 2024 and sell it today you would lose (223.00) from holding HUMANA INC or give up 2.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
HUMANA INC vs. Morgan Stanley Institutional
Performance |
| Timeline |
| HUMANA INC |
| Morgan Stanley Insti |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
HUMANA and Morgan Stanley Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Morgan Stanley
The main advantage of trading using opposite HUMANA and Morgan Stanley positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Morgan Stanley 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 Morgan Stanley will offset losses from the drop in Morgan Stanley's long position.| HUMANA vs. Amkor Technology | HUMANA vs. Primo Brands | HUMANA vs. The Coca Cola | HUMANA vs. Brandywine Realty Trust |
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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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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