Correlation Between HUMANA and Marubeni
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By analyzing existing cross correlation between HUMANA INC and Marubeni, you can compare the effects of market volatilities on HUMANA and Marubeni 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 Marubeni. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Marubeni.
Diversification Opportunities for HUMANA and Marubeni
Significant diversification
The 3 months correlation between HUMANA and Marubeni is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Marubeni in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marubeni 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 Marubeni. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marubeni has no effect on the direction of HUMANA i.e., HUMANA and Marubeni go up and down completely randomly.
Pair Corralation between HUMANA and Marubeni
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Marubeni. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC is 6.08 times less risky than Marubeni. The bond trades about -0.05 of its potential returns per unit of risk. The Marubeni is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 1,467 in Marubeni on September 4, 2024 and sell it today you would earn a total of 121.00 from holding Marubeni or generate 8.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
HUMANA INC vs. Marubeni
Performance |
| Timeline |
| HUMANA INC |
| Marubeni |
HUMANA and Marubeni Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Marubeni
The main advantage of trading using opposite HUMANA and Marubeni positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Marubeni 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 Marubeni will offset losses from the drop in Marubeni's long position.| HUMANA vs. Usio Inc | HUMANA vs. MACOM Technology Solutions | HUMANA vs. Amkor Technology | HUMANA vs. Analog Devices |
| Marubeni vs. Grupo Bimbo SAB | Marubeni vs. Grupo Financiero Inbursa | Marubeni vs. Becle SA de | Marubeni vs. HUMANA INC |
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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