Correlation Between HUMANA and Rmb Fund
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By analyzing existing cross correlation between HUMANA INC and Rmb Fund I, you can compare the effects of market volatilities on HUMANA and Rmb Fund 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 Rmb Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Rmb Fund.
Diversification Opportunities for HUMANA and Rmb Fund
Excellent diversification
The 3 months correlation between HUMANA and Rmb is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Rmb Fund I in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rmb Fund I 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 Rmb Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rmb Fund I has no effect on the direction of HUMANA i.e., HUMANA and Rmb Fund go up and down completely randomly.
Pair Corralation between HUMANA and Rmb Fund
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Rmb Fund. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC is 1.07 times less risky than Rmb Fund. The bond trades about -0.04 of its potential returns per unit of risk. The Rmb Fund I is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 3,501 in Rmb Fund I on September 1, 2024 and sell it today you would earn a total of 341.00 from holding Rmb Fund I or generate 9.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.41% |
| Values | Daily Returns |
HUMANA INC vs. Rmb Fund I
Performance |
| Timeline |
| HUMANA INC |
| Rmb Fund I |
HUMANA and Rmb Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Rmb Fund
The main advantage of trading using opposite HUMANA and Rmb Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Rmb Fund 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 Rmb Fund will offset losses from the drop in Rmb Fund's long position.| HUMANA vs. NI Holdings | HUMANA vs. Naked Wines plc | HUMANA vs. Kinsale Capital Group | HUMANA vs. Diageo PLC ADR |
| Rmb Fund vs. Pioneer High Yield | Rmb Fund vs. Msift High Yield | Rmb Fund vs. American Century High | Rmb Fund vs. Blackrock High Yield |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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