Correlation Between HUMANA and Mid-Atlantic Home
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By analyzing existing cross correlation between HUMANA INC and Mid Atlantic Home Health, you can compare the effects of market volatilities on HUMANA and Mid-Atlantic Home 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 Mid-Atlantic Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Mid-Atlantic Home.
Diversification Opportunities for HUMANA and Mid-Atlantic Home
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Mid-Atlantic is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Mid Atlantic Home Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mid Atlantic Home 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 Mid-Atlantic Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mid Atlantic Home has no effect on the direction of HUMANA i.e., HUMANA and Mid-Atlantic Home go up and down completely randomly.
Pair Corralation between HUMANA and Mid-Atlantic Home
If you would invest 0.01 in Mid Atlantic Home Health on August 25, 2024 and sell it today you would earn a total of 0.00 from holding Mid Atlantic Home Health or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.94% |
| Values | Daily Returns |
HUMANA INC vs. Mid Atlantic Home Health
Performance |
| Timeline |
| HUMANA INC |
| Mid Atlantic Home |
HUMANA and Mid-Atlantic Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Mid-Atlantic Home
The main advantage of trading using opposite HUMANA and Mid-Atlantic Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Mid-Atlantic Home 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 Mid-Atlantic Home will offset losses from the drop in Mid-Atlantic Home's long position.| HUMANA vs. Deluxe | HUMANA vs. Vita Coco | HUMANA vs. Willamette Valley Vineyards | HUMANA vs. Global E Online |
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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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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