Correlation Between HUMANA and Southern Arc
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By analyzing existing cross correlation between HUMANA INC and Southern Arc Minerals, you can compare the effects of market volatilities on HUMANA and Southern Arc 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 Southern Arc. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Southern Arc.
Diversification Opportunities for HUMANA and Southern Arc
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Southern is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Southern Arc Minerals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Southern Arc Minerals 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 Southern Arc. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Southern Arc Minerals has no effect on the direction of HUMANA i.e., HUMANA and Southern Arc go up and down completely randomly.
Pair Corralation between HUMANA and Southern Arc
If you would invest 1.00 in Southern Arc Minerals on September 13, 2024 and sell it today you would earn a total of 0.00 from holding Southern Arc Minerals or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HUMANA INC vs. Southern Arc Minerals
Performance |
| Timeline |
| HUMANA INC |
| Southern Arc Minerals |
HUMANA and Southern Arc Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Southern Arc
The main advantage of trading using opposite HUMANA and Southern Arc positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Southern Arc 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 Southern Arc will offset losses from the drop in Southern Arc's long position.| HUMANA vs. Morgan Stanley | HUMANA vs. Infosys Ltd ADR | HUMANA vs. Citizens Bancorp Investment | HUMANA vs. Small Cap Premium |
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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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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