Correlation Between HUMANA and Terawulf
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By analyzing existing cross correlation between HUMANA INC and Terawulf, you can compare the effects of market volatilities on HUMANA and Terawulf 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 Terawulf. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Terawulf.
Diversification Opportunities for HUMANA and Terawulf
Excellent diversification
The 3 months correlation between HUMANA and Terawulf is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Terawulf in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Terawulf 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 Terawulf. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Terawulf has no effect on the direction of HUMANA i.e., HUMANA and Terawulf go up and down completely randomly.
Pair Corralation between HUMANA and Terawulf
Assuming the 90 days trading horizon HUMANA INC is expected to under-perform the Terawulf. But the bond apears to be less risky and, when comparing its historical volatility, HUMANA INC is 17.04 times less risky than Terawulf. The bond trades about -0.15 of its potential returns per unit of risk. The Terawulf is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 638.00 in Terawulf on August 26, 2024 and sell it today you would earn a total of 107.00 from holding Terawulf or generate 16.77% 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. Terawulf
Performance |
| Timeline |
| HUMANA INC |
| Terawulf |
HUMANA and Terawulf Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HUMANA and Terawulf
The main advantage of trading using opposite HUMANA and Terawulf positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Terawulf 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 Terawulf will offset losses from the drop in Terawulf's long position.| HUMANA vs. Balchem | HUMANA vs. Stepan Company | HUMANA vs. Videolocity International | HUMANA vs. Luxfer Holdings PLC |
| Terawulf vs. PowerUp Acquisition Corp | Terawulf vs. Aurora Innovation | Terawulf vs. HUMANA INC | Terawulf vs. Aquagold International |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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