Correlation Between HUMANA and Sabre Insurance
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By analyzing existing cross correlation between HUMANA INC and Sabre Insurance Group, you can compare the effects of market volatilities on HUMANA and Sabre Insurance 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 Sabre Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Sabre Insurance.
Diversification Opportunities for HUMANA and Sabre Insurance
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Sabre is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Sabre Insurance Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sabre Insurance Group 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 Sabre Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sabre Insurance Group has no effect on the direction of HUMANA i.e., HUMANA and Sabre Insurance go up and down completely randomly.
Pair Corralation between HUMANA and Sabre Insurance
If you would invest 504.00 in Sabre Insurance Group on September 13, 2024 and sell it today you would earn a total of 0.00 from holding Sabre Insurance Group 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. Sabre Insurance Group
Performance |
| Timeline |
| HUMANA INC |
| Sabre Insurance Group |
HUMANA and Sabre Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Sabre Insurance
The main advantage of trading using opposite HUMANA and Sabre Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Sabre Insurance 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 Sabre Insurance will offset losses from the drop in Sabre Insurance's long position.| HUMANA vs. Morgan Stanley | HUMANA vs. Infosys Ltd ADR | HUMANA vs. Citizens Bancorp Investment | HUMANA vs. Small Cap Premium |
| Sabre Insurance vs. AppTech Payments Corp | Sabre Insurance vs. Arbe Robotics Ltd | Sabre Insurance vs. Arax Holdings Corp | Sabre Insurance vs. HUMANA INC |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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