Correlation Between Voxtur Analytics and HUMANA
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By analyzing existing cross correlation between Voxtur Analytics Corp and HUMANA INC, you can compare the effects of market volatilities on Voxtur Analytics 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 Voxtur Analytics with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Voxtur Analytics and HUMANA.
Diversification Opportunities for Voxtur Analytics and HUMANA
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Voxtur and HUMANA is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Voxtur Analytics Corp and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Voxtur Analytics 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 Voxtur Analytics Corp 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 Voxtur Analytics i.e., Voxtur Analytics and HUMANA go up and down completely randomly.
Pair Corralation between Voxtur Analytics and HUMANA
Assuming the 90 days horizon Voxtur Analytics Corp is expected to under-perform the HUMANA. In addition to that, Voxtur Analytics is 10.53 times more volatile than HUMANA INC. It trades about -0.04 of its total potential returns per unit of risk. HUMANA INC is currently generating about -0.04 per unit of volatility. If you would invest 8,006 in HUMANA INC on October 1, 2024 and sell it today you would lose (311.00) from holding HUMANA INC or give up 3.88% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.4% |
| Values | Daily Returns |
Voxtur Analytics Corp vs. HUMANA INC
Performance |
| Timeline |
| Voxtur Analytics Corp |
| HUMANA INC |
Voxtur Analytics and HUMANA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Voxtur Analytics and HUMANA
The main advantage of trading using opposite Voxtur Analytics and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Voxtur Analytics 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.| Voxtur Analytics vs. NextPlat Corp | Voxtur Analytics vs. Waldencast Acquisition Corp | Voxtur Analytics vs. CXApp Inc | Voxtur Analytics vs. Alkami Technology |
| HUMANA vs. Flexible Solutions International | HUMANA vs. Sensient Technologies | HUMANA vs. Tesla Inc | HUMANA vs. Mativ Holdings |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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