Correlation Between HUMANA and Mfs Intrinsic
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By analyzing existing cross correlation between HUMANA INC and Mfs Intrinsic Value, you can compare the effects of market volatilities on HUMANA and Mfs Intrinsic 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 Mfs Intrinsic. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Mfs Intrinsic.
Diversification Opportunities for HUMANA and Mfs Intrinsic
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between HUMANA and Mfs is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Mfs Intrinsic Value in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mfs Intrinsic Value 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 Mfs Intrinsic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mfs Intrinsic Value has no effect on the direction of HUMANA i.e., HUMANA and Mfs Intrinsic go up and down completely randomly.
Pair Corralation between HUMANA and Mfs Intrinsic
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Mfs Intrinsic. In addition to that, HUMANA is 1.39 times more volatile than Mfs Intrinsic Value. It trades about -0.21 of its total potential returns per unit of risk. Mfs Intrinsic Value is currently generating about 0.2 per unit of volatility. If you would invest 1,212 in Mfs Intrinsic Value on August 31, 2024 and sell it today you would earn a total of 43.00 from holding Mfs Intrinsic Value or generate 3.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
HUMANA INC vs. Mfs Intrinsic Value
Performance |
| Timeline |
| HUMANA INC |
| Mfs Intrinsic Value |
HUMANA and Mfs Intrinsic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Mfs Intrinsic
The main advantage of trading using opposite HUMANA and Mfs Intrinsic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Mfs Intrinsic 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 Mfs Intrinsic will offset losses from the drop in Mfs Intrinsic's long position.| HUMANA vs. Air Products and | HUMANA vs. GE Vernova LLC | HUMANA vs. Aris Water Solutions | HUMANA vs. Pure Cycle |
| Mfs Intrinsic vs. Europacific Growth Fund | Mfs Intrinsic vs. Washington Mutual Investors | Mfs Intrinsic vs. Capital World Growth | Mfs Intrinsic 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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