Correlation Between HUMANA and Sekisui House
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By analyzing existing cross correlation between HUMANA INC and Sekisui House Ltd, you can compare the effects of market volatilities on HUMANA and Sekisui House 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 Sekisui House. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Sekisui House.
Diversification Opportunities for HUMANA and Sekisui House
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between HUMANA and Sekisui is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Sekisui House Ltd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sekisui House 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 Sekisui House. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sekisui House has no effect on the direction of HUMANA i.e., HUMANA and Sekisui House go up and down completely randomly.
Pair Corralation between HUMANA and Sekisui House
Assuming the 90 days trading horizon HUMANA INC is expected to generate 0.68 times more return on investment than Sekisui House. However, HUMANA INC is 1.48 times less risky than Sekisui House. It trades about -0.09 of its potential returns per unit of risk. Sekisui House Ltd is currently generating about -0.11 per unit of risk. If you would invest 8,067 in HUMANA INC on November 29, 2024 and sell it today you would lose (168.00) from holding HUMANA INC or give up 2.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
HUMANA INC vs. Sekisui House Ltd
Performance |
| Timeline |
| HUMANA INC |
| Sekisui House |
HUMANA and Sekisui House Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Sekisui House
The main advantage of trading using opposite HUMANA and Sekisui House positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Sekisui House 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 Sekisui House will offset losses from the drop in Sekisui House's long position.| HUMANA vs. SNDL Inc | HUMANA vs. Compania Cervecerias Unidas | HUMANA vs. Monster Beverage Corp | HUMANA vs. Keurig Dr Pepper |
| Sekisui House vs. Daiwa House Industry | Sekisui House vs. Shiseido Company | Sekisui House vs. Secom Co Ltd | Sekisui House vs. Telenor ASA ADR |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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