Correlation Between HUMANA and Short Real
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By analyzing existing cross correlation between HUMANA INC and Short Real Estate, you can compare the effects of market volatilities on HUMANA and Short Real 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 Short Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Short Real.
Diversification Opportunities for HUMANA and Short Real
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between HUMANA and Short is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Short Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Short Real Estate 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 Short Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Short Real Estate has no effect on the direction of HUMANA i.e., HUMANA and Short Real go up and down completely randomly.
Pair Corralation between HUMANA and Short Real
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Short Real. In addition to that, HUMANA is 1.41 times more volatile than Short Real Estate. It trades about -0.19 of its total potential returns per unit of risk. Short Real Estate is currently generating about 0.03 per unit of volatility. If you would invest 806.00 in Short Real Estate on September 13, 2024 and sell it today you would earn a total of 3.00 from holding Short Real Estate or generate 0.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HUMANA INC vs. Short Real Estate
Performance |
| Timeline |
| HUMANA INC |
| Short Real Estate |
HUMANA and Short Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Short Real
The main advantage of trading using opposite HUMANA and Short Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Short Real 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 Short Real will offset losses from the drop in Short Real's long position.| HUMANA vs. Morgan Stanley | HUMANA vs. Infosys Ltd ADR | HUMANA vs. Citizens Bancorp Investment | HUMANA vs. Small Cap Premium |
| Short Real vs. Short Real Estate | Short Real vs. Ultrashort Mid Cap Profund | Short Real vs. Ultrashort Mid Cap Profund | Short Real vs. Technology Ultrasector Profund |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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