Correlation Between HUMANA and Permanent Portfolio
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and Permanent Portfolio Class, you can compare the effects of market volatilities on HUMANA and Permanent Portfolio 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 Permanent Portfolio. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Permanent Portfolio.
Diversification Opportunities for HUMANA and Permanent Portfolio
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between HUMANA and Permanent is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Permanent Portfolio Class in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Permanent Portfolio Class 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 Permanent Portfolio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Permanent Portfolio Class has no effect on the direction of HUMANA i.e., HUMANA and Permanent Portfolio go up and down completely randomly.
Pair Corralation between HUMANA and Permanent Portfolio
Assuming the 90 days trading horizon HUMANA INC is expected to generate 142.33 times more return on investment than Permanent Portfolio. However, HUMANA is 142.33 times more volatile than Permanent Portfolio Class. It trades about 0.07 of its potential returns per unit of risk. Permanent Portfolio Class is currently generating about 0.12 per unit of risk. If you would invest 8,122 in HUMANA INC on November 27, 2024 and sell it today you would lose (223.00) from holding HUMANA INC or give up 2.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.75% |
| Values | Daily Returns |
HUMANA INC vs. Permanent Portfolio Class
Performance |
| Timeline |
| HUMANA INC |
| Permanent Portfolio Class |
HUMANA and Permanent Portfolio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Permanent Portfolio
The main advantage of trading using opposite HUMANA and Permanent Portfolio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Permanent Portfolio 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 Permanent Portfolio will offset losses from the drop in Permanent Portfolio's long position.| HUMANA vs. Amkor Technology | HUMANA vs. Primo Brands | HUMANA vs. The Coca Cola | HUMANA vs. Brandywine Realty Trust |
| Permanent Portfolio vs. The Fairholme Fund | Permanent Portfolio vs. Fpa Crescent Fund | Permanent Portfolio vs. Amg Yacktman Fund | Permanent Portfolio vs. Hussman Strategic Total |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Other Complementary Tools
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |