Correlation Between HUMANA and Vanguard Short
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By analyzing existing cross correlation between HUMANA INC and Vanguard Short Term Federal, you can compare the effects of market volatilities on HUMANA and Vanguard Short 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 Vanguard Short. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Vanguard Short.
Diversification Opportunities for HUMANA and Vanguard Short
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between HUMANA and Vanguard is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Vanguard Short Term Federal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vanguard Short Term 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 Vanguard Short. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vanguard Short Term has no effect on the direction of HUMANA i.e., HUMANA and Vanguard Short go up and down completely randomly.
Pair Corralation between HUMANA and Vanguard Short
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Vanguard Short. In addition to that, HUMANA is 8.88 times more volatile than Vanguard Short Term Federal. It trades about -0.09 of its total potential returns per unit of risk. Vanguard Short Term Federal is currently generating about 0.14 per unit of volatility. If you would invest 1,017 in Vanguard Short Term Federal on November 27, 2024 and sell it today you would earn a total of 3.00 from holding Vanguard Short Term Federal or generate 0.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
HUMANA INC vs. Vanguard Short Term Federal
Performance |
| Timeline |
| HUMANA INC |
| Vanguard Short Term |
HUMANA and Vanguard Short Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Vanguard Short
The main advantage of trading using opposite HUMANA and Vanguard Short positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Vanguard Short 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 Vanguard Short will offset losses from the drop in Vanguard Short's long position.| HUMANA vs. Amkor Technology | HUMANA vs. Primo Brands | HUMANA vs. The Coca Cola | HUMANA vs. Brandywine Realty Trust |
| Vanguard Short vs. Vanguard Short Term Treasury | Vanguard Short vs. Vanguard Intermediate Term Treasury | Vanguard Short vs. Vanguard Short Term Bond | Vanguard Short vs. Vanguard Long Term Treasury |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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