Correlation Between HUMANA and Marizyme
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By analyzing existing cross correlation between HUMANA INC and Marizyme, you can compare the effects of market volatilities on HUMANA and Marizyme 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 Marizyme. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Marizyme.
Diversification Opportunities for HUMANA and Marizyme
Good diversification
The 3 months correlation between HUMANA and Marizyme is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Marizyme in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marizyme 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 Marizyme. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marizyme has no effect on the direction of HUMANA i.e., HUMANA and Marizyme go up and down completely randomly.
Pair Corralation between HUMANA and Marizyme
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Marizyme. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC is 27.91 times less risky than Marizyme. The bond trades about -0.21 of its potential returns per unit of risk. The Marizyme is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 6.00 in Marizyme on August 31, 2024 and sell it today you would lose (1.00) from holding Marizyme or give up 16.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
HUMANA INC vs. Marizyme
Performance |
| Timeline |
| HUMANA INC |
| Marizyme |
HUMANA and Marizyme Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Marizyme
The main advantage of trading using opposite HUMANA and Marizyme positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Marizyme 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 Marizyme will offset losses from the drop in Marizyme's long position.| HUMANA vs. Air Products and | HUMANA vs. GE Vernova LLC | HUMANA vs. Aris Water Solutions | HUMANA vs. Pure Cycle |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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