Correlation Between HUMANA and Rbc Emerging
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By analyzing existing cross correlation between HUMANA INC and Rbc Emerging Markets, you can compare the effects of market volatilities on HUMANA and Rbc Emerging 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 Rbc Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Rbc Emerging.
Diversification Opportunities for HUMANA and Rbc Emerging
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between HUMANA and Rbc is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Rbc Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rbc Emerging Markets 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 Rbc Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rbc Emerging Markets has no effect on the direction of HUMANA i.e., HUMANA and Rbc Emerging go up and down completely randomly.
Pair Corralation between HUMANA and Rbc Emerging
Assuming the 90 days trading horizon HUMANA INC is expected to generate 0.78 times more return on investment than Rbc Emerging. However, HUMANA INC is 1.28 times less risky than Rbc Emerging. It trades about -0.05 of its potential returns per unit of risk. Rbc Emerging Markets is currently generating about -0.16 per unit of risk. If you would invest 8,090 in HUMANA INC on September 4, 2024 and sell it today you would lose (55.00) from holding HUMANA INC or give up 0.68% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
HUMANA INC vs. Rbc Emerging Markets
Performance |
| Timeline |
| HUMANA INC |
| Rbc Emerging Markets |
HUMANA and Rbc Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Rbc Emerging
The main advantage of trading using opposite HUMANA and Rbc Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Rbc Emerging 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 Rbc Emerging will offset losses from the drop in Rbc Emerging's long position.| HUMANA vs. Usio Inc | HUMANA vs. MACOM Technology Solutions | HUMANA vs. Amkor Technology | HUMANA vs. Analog Devices |
| Rbc Emerging vs. Rbc Small Cap | Rbc Emerging vs. Rbc Enterprise Fund | Rbc Emerging vs. Rbc Enterprise Fund | Rbc Emerging vs. Rbc Emerging Markets |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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