Correlation Between HUMANA and Saat Core
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and Saat E Market, you can compare the effects of market volatilities on HUMANA and Saat Core 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 Saat Core. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Saat Core.
Diversification Opportunities for HUMANA and Saat Core
Excellent diversification
The 3 months correlation between HUMANA and Saat is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Saat E Market in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saat E Market 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 Saat Core. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saat E Market has no effect on the direction of HUMANA i.e., HUMANA and Saat Core go up and down completely randomly.
Pair Corralation between HUMANA and Saat Core
Assuming the 90 days trading horizon HUMANA INC is expected to generate 138.25 times more return on investment than Saat Core. However, HUMANA is 138.25 times more volatile than Saat E Market. It trades about 0.08 of its potential returns per unit of risk. Saat E Market is currently generating about 0.08 per unit of risk. If you would invest 7,827 in HUMANA INC on August 28, 2024 and sell it today you would earn a total of 208.00 from holding HUMANA INC or generate 2.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 97.46% |
| Values | Daily Returns |
HUMANA INC vs. Saat E Market
Performance |
| Timeline |
| HUMANA INC |
| Saat E Market |
HUMANA and Saat Core Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Saat Core
The main advantage of trading using opposite HUMANA and Saat Core positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Saat Core 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 Saat Core will offset losses from the drop in Saat Core's long position.| HUMANA vs. Zhihu Inc ADR | HUMANA vs. National CineMedia | HUMANA vs. Comstock Holding Companies | HUMANA vs. PennantPark Investment |
| Saat Core vs. Saat Tax Managed Aggressive | Saat Core vs. Saat Moderate Strategy | Saat Core vs. Simt Tax Managed Managed | Saat Core vs. Hartford Schroders Smallmid |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |