Correlation Between HUMANA and Mfs Intrinsic
Specify exactly 2 symbols:
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
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between HUMANA and Mfs is -0.62. 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 2.09 times more volatile than Mfs Intrinsic Value. It trades about -0.16 of its total potential returns per unit of risk. Mfs Intrinsic Value is currently generating about 0.33 per unit of volatility. If you would invest 1,213 in Mfs Intrinsic Value on September 1, 2024 and sell it today you would earn a total of 64.00 from holding Mfs Intrinsic Value or generate 5.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 90.91% |
| 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. NI Holdings | HUMANA vs. Naked Wines plc | HUMANA vs. Kinsale Capital Group | HUMANA vs. Diageo PLC ADR |
| Mfs Intrinsic vs. Mfs Prudent Investor | Mfs Intrinsic vs. Mfs Prudent Investor | Mfs Intrinsic vs. Mfs Prudent Investor | Mfs Intrinsic vs. Mfs Prudent Investor |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |