Correlation Between HUMANA and Long Term
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By analyzing existing cross correlation between HUMANA INC and Long Term Government Fund, you can compare the effects of market volatilities on HUMANA and Long Term 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 Long Term. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Long Term.
Diversification Opportunities for HUMANA and Long Term
Pay attention - limited upside
The 3 months correlation between HUMANA and Long is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Long Term Government Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Long Term Government 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 Long Term. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Long Term Government has no effect on the direction of HUMANA i.e., HUMANA and Long Term go up and down completely randomly.
Pair Corralation between HUMANA and Long Term
If you would invest (100.00) in HUMANA INC on March 15, 2024 and sell it today you would earn a total of 100.00 from holding HUMANA INC or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
HUMANA INC vs. Long Term Government Fund
Performance |
Timeline |
HUMANA INC |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Long Term Government |
HUMANA and Long Term Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with HUMANA and Long Term
The main advantage of trading using opposite HUMANA and Long Term positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Long Term 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 Long Term will offset losses from the drop in Long Term's long position.HUMANA vs. Delta Air Lines | HUMANA vs. Sun Country Airlines | HUMANA vs. Primo Water Corp | HUMANA vs. PepsiCo |
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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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