Correlation Between HUMANA and Marsico Focus
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By analyzing existing cross correlation between HUMANA INC and Marsico Focus Fund, you can compare the effects of market volatilities on HUMANA and Marsico Focus 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 Marsico Focus. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Marsico Focus.
Diversification Opportunities for HUMANA and Marsico Focus
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between HUMANA and Marsico is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Marsico Focus Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marsico Focus 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 Marsico Focus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marsico Focus has no effect on the direction of HUMANA i.e., HUMANA and Marsico Focus go up and down completely randomly.
Pair Corralation between HUMANA and Marsico Focus
Assuming the 90 days trading horizon HUMANA is expected to generate 2.0 times less return on investment than Marsico Focus. But when comparing it to its historical volatility, HUMANA INC is 1.58 times less risky than Marsico Focus. It trades about 0.07 of its potential returns per unit of risk. Marsico Focus Fund is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 2,993 in Marsico Focus Fund on November 4, 2024 and sell it today you would earn a total of 74.00 from holding Marsico Focus Fund or generate 2.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
HUMANA INC vs. Marsico Focus Fund
Performance |
| Timeline |
| HUMANA INC |
| Marsico Focus |
HUMANA and Marsico Focus Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Marsico Focus
The main advantage of trading using opposite HUMANA and Marsico Focus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Marsico Focus 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 Marsico Focus will offset losses from the drop in Marsico Focus' long position.| HUMANA vs. Treasury Wine Estates | HUMANA vs. Two Harbors Investments | HUMANA vs. PepsiCo | HUMANA vs. PennantPark Investment |
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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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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