Correlation Between HUMANA and Blackrock Tactical
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By analyzing existing cross correlation between HUMANA INC and Blackrock Tactical Opportunities, you can compare the effects of market volatilities on HUMANA and Blackrock Tactical 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 Tactical. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Blackrock Tactical.
Diversification Opportunities for HUMANA and Blackrock Tactical
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between HUMANA and Blackrock is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Blackrock Tactical Opportuniti in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackrock Tactical 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 Tactical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackrock Tactical has no effect on the direction of HUMANA i.e., HUMANA and Blackrock Tactical go up and down completely randomly.
Pair Corralation between HUMANA and Blackrock Tactical
Assuming the 90 days trading horizon HUMANA INC is expected to generate 2.29 times more return on investment than Blackrock Tactical. However, HUMANA is 2.29 times more volatile than Blackrock Tactical Opportunities. It trades about 0.07 of its potential returns per unit of risk. Blackrock Tactical Opportunities is currently generating about 0.12 per unit of risk. If you would invest 8,162 in HUMANA INC on October 24, 2024 and sell it today you would earn a total of 282.00 from holding HUMANA INC or generate 3.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.33% |
| Values | Daily Returns |
HUMANA INC vs. Blackrock Tactical Opportuniti
Performance |
| Timeline |
| HUMANA INC |
| Blackrock Tactical |
HUMANA and Blackrock Tactical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Blackrock Tactical
The main advantage of trading using opposite HUMANA and Blackrock Tactical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Blackrock Tactical 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 Tactical will offset losses from the drop in Blackrock Tactical's long position.| HUMANA vs. Daily Journal Corp | HUMANA vs. Pearson PLC ADR | HUMANA vs. Gannett Co | HUMANA vs. John Wiley Sons |
| Blackrock Tactical vs. Managed Account Series | Blackrock Tactical vs. Blackrock Hi Yld | Blackrock Tactical vs. Blackrock High Yield | Blackrock Tactical vs. Blackrock Hi Yld |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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