Correlation Between HUMANA and BlackRock
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By analyzing existing cross correlation between HUMANA INC and BlackRock, you can compare the effects of market volatilities on HUMANA and BlackRock 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 BlackRock. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and BlackRock.
Diversification Opportunities for HUMANA and BlackRock
Pay attention - limited upside
The 3 months correlation between HUMANA and BlackRock is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and BlackRock in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BlackRock 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 BlackRock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BlackRock has no effect on the direction of HUMANA i.e., HUMANA and BlackRock go up and down completely randomly.
Pair Corralation between HUMANA and BlackRock
If you would invest (100.00) in BlackRock on September 12, 2024 and sell it today you would earn a total of 100.00 from holding BlackRock or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
HUMANA INC vs. BlackRock
Performance |
| Timeline |
| HUMANA INC |
| BlackRock |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
HUMANA and BlackRock Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and BlackRock
The main advantage of trading using opposite HUMANA and BlackRock positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, BlackRock 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 BlackRock will offset losses from the drop in BlackRock's long position.| HUMANA vs. Morgan Stanley | HUMANA vs. Infosys Ltd ADR | HUMANA vs. Citizens Bancorp Investment | HUMANA vs. Small Cap Premium |
| BlackRock vs. iShares Treasury Floating | BlackRock vs. iShares Short Term National | BlackRock vs. iShares Short Maturity | BlackRock 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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