Correlation Between HUMANA and Stereo Vision
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and Stereo Vision Entertainment, you can compare the effects of market volatilities on HUMANA and Stereo Vision 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 Stereo Vision. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Stereo Vision.
Diversification Opportunities for HUMANA and Stereo Vision
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between HUMANA and Stereo is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Stereo Vision Entertainment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Stereo Vision Entert 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 Stereo Vision. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stereo Vision Entert has no effect on the direction of HUMANA i.e., HUMANA and Stereo Vision go up and down completely randomly.
Pair Corralation between HUMANA and Stereo Vision
Assuming the 90 days trading horizon HUMANA INC is expected to generate 36.84 times more return on investment than Stereo Vision. However, HUMANA is 36.84 times more volatile than Stereo Vision Entertainment. It trades about 0.07 of its potential returns per unit of risk. Stereo Vision Entertainment is currently generating about -0.03 per unit of risk. If you would invest 8,099 in HUMANA INC on August 28, 2024 and sell it today you would lose (404.00) from holding HUMANA INC or give up 4.99% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 93.94% |
| Values | Daily Returns |
HUMANA INC vs. Stereo Vision Entertainment
Performance |
| Timeline |
| HUMANA INC |
| Stereo Vision Entert |
HUMANA and Stereo Vision Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Stereo Vision
The main advantage of trading using opposite HUMANA and Stereo Vision positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Stereo Vision 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 Stereo Vision will offset losses from the drop in Stereo Vision's long position.| HUMANA vs. Ultra Clean Holdings | HUMANA vs. Dream Homes Development | HUMANA vs. JBG SMITH Properties | HUMANA vs. Allegheny Technologies Incorporated |
| Stereo Vision vs. HUMANA INC | Stereo Vision vs. SCOR PK | Stereo Vision vs. Aquagold International | Stereo Vision vs. Barloworld Ltd 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. |