Correlation Between HUMANA and Vanguard
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By analyzing existing cross correlation between HUMANA INC and Vanguard Growth Fund, you can compare the effects of market volatilities on HUMANA and Vanguard 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. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Vanguard.
Diversification Opportunities for HUMANA and Vanguard
Very weak diversification
The 3 months correlation between HUMANA and Vanguard is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Vanguard Growth Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vanguard Growth 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. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vanguard Growth has no effect on the direction of HUMANA i.e., HUMANA and Vanguard go up and down completely randomly.
Pair Corralation between HUMANA and Vanguard
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Vanguard. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC is 1.14 times less risky than Vanguard. The bond trades about -0.09 of its potential returns per unit of risk. The Vanguard Growth Fund is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 18,891 in Vanguard Growth Fund on November 27, 2024 and sell it today you would lose (204.00) from holding Vanguard Growth Fund or give up 1.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
HUMANA INC vs. Vanguard Growth Fund
Performance |
| Timeline |
| HUMANA INC |
| Vanguard Growth |
HUMANA and Vanguard Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Vanguard
The main advantage of trading using opposite HUMANA and Vanguard positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Vanguard 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 will offset losses from the drop in Vanguard's long position.| HUMANA vs. Amkor Technology | HUMANA vs. Primo Brands | HUMANA vs. The Coca Cola | HUMANA vs. Brandywine Realty Trust |
| Vanguard vs. Vanguard International Growth | Vanguard vs. Vanguard Explorer Fund | Vanguard vs. Vanguard Windsor Ii | Vanguard vs. Vanguard Growth Fund |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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