Correlation Between HUMANA and Aew Real
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and Aew Real Estate, you can compare the effects of market volatilities on HUMANA and Aew Real 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 Aew Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Aew Real.
Diversification Opportunities for HUMANA and Aew Real
Modest diversification
The 3 months correlation between HUMANA and Aew is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Aew Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aew Real Estate 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 Aew Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aew Real Estate has no effect on the direction of HUMANA i.e., HUMANA and Aew Real go up and down completely randomly.
Pair Corralation between HUMANA and Aew Real
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Aew Real. In addition to that, HUMANA is 1.86 times more volatile than Aew Real Estate. It trades about -0.19 of its total potential returns per unit of risk. Aew Real Estate is currently generating about -0.06 per unit of volatility. If you would invest 1,297 in Aew Real Estate on September 13, 2024 and sell it today you would lose (10.00) from holding Aew Real Estate or give up 0.77% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
HUMANA INC vs. Aew Real Estate
Performance |
| Timeline |
| HUMANA INC |
| Aew Real Estate |
HUMANA and Aew Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Aew Real
The main advantage of trading using opposite HUMANA and Aew Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Aew Real 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 Aew Real will offset losses from the drop in Aew Real's long position.| HUMANA vs. Morgan Stanley | HUMANA vs. Infosys Ltd ADR | HUMANA vs. Citizens Bancorp Investment | HUMANA vs. Small Cap Premium |
| Aew Real vs. Short Real Estate | Aew Real vs. Real Estate Ultrasector | Aew Real vs. Jhancock Real Estate | Aew Real vs. Guggenheim Risk Managed |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Transaction History View history of all your transactions and understand their impact on performance | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |