Correlation Between Videolocity International and HUMANA

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Videolocity International and HUMANA at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Videolocity International and HUMANA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Videolocity International and HUMANA INC, you can compare the effects of market volatilities on Videolocity International and HUMANA 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 Videolocity International with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Videolocity International and HUMANA.

Diversification Opportunities for Videolocity International and HUMANA

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Videolocity and HUMANA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Videolocity International and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Videolocity International 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 Videolocity International are associated (or correlated) with HUMANA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HUMANA INC has no effect on the direction of Videolocity International i.e., Videolocity International and HUMANA go up and down completely randomly.

Pair Corralation between Videolocity International and HUMANA

If you would invest  7,962  in HUMANA INC on August 26, 2024 and sell it today you would earn a total of  73.00  from holding HUMANA INC or generate 0.92% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy93.76%
ValuesDaily Returns

Videolocity International  vs.  HUMANA INC

 Performance 
       Timeline  
Videolocity International 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Videolocity International has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, Videolocity International is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short-term losses for the investors.
HUMANA INC 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days HUMANA INC has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest unsteady performance, the Bond's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for HUMANA INC investors.

Videolocity International and HUMANA Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Videolocity International and HUMANA

The main advantage of trading using opposite Videolocity International and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Videolocity International position performs unexpectedly, HUMANA 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 HUMANA will offset losses from the drop in HUMANA's long position.
Videolocity International vs. Wialan Technologies
Videolocity International vs. TPT Global Tech
Videolocity International vs. AAP Inc
Videolocity International vs. Impinj Inc
The idea behind Videolocity International and HUMANA INC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
HUMANA vs. Balchem
HUMANA vs. Stepan Company
HUMANA vs. Videolocity International
HUMANA vs. Luxfer Holdings PLC
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.

Other Complementary Tools

Aroon Oscillator
Analyze current equity momentum using Aroon Oscillator and other momentum ratios
Volatility Analysis
Get historical volatility and risk analysis based on latest market data
Technical Analysis
Check basic technical indicators and analysis based on most latest market data
Premium Stories
Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope
Piotroski F Score
Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals


 
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY