HUMANA Correlations

444859BR2   81.82  1.62  2.02%   
The current 90-days correlation between HUMANA INC and AEP TEX INC is 0.37 (i.e., Weak diversification). The correlation of HUMANA is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

HUMANA Correlation With Market

Modest diversification

The correlation between HUMANA INC and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to HUMANA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HUMANA when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back HUMANA - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling HUMANA INC to buy it.

Moving together with HUMANA Bond

  0.68NFLX Netflix Financial Report 17th of July 2024 PairCorr
  0.79ELDFX Elfun DiversifiedPairCorr
  0.74MSFT Microsoft Aggressive PushPairCorr
  0.65BA Boeing Financial Report 24th of July 2024 PairCorr
  0.63HPQ HP Inc Sell-off TrendPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
WMTDSITF
WMTNVDA
DSITF90331HPL1
WMT90331HPL1
NVDADSITF
NVDA90331HPL1
  
High negative correlations   
FIS00108WAF7
DD00108WAF7
ELDFX00108WAF7
DSITF00108WAF7
WMT00108WAF7
NVDA00108WAF7

Risk-Adjusted Indicators

There is a big difference between HUMANA Bond performing well and HUMANA Corporate Bond doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze HUMANA's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
00108WAF7  1.07  0.15  0.13  0.89  1.07 
 2.07 
 5.74 
90331HPL1  0.08  0.00  0.12  1.32  0.00 
 0.19 
 0.65 
NFLX  1.37  0.11  0.06  0.43  2.04 
 3.04 
 12.18 
FIS  1.13  0.12  0.09  0.10  1.16 
 2.20 
 8.90 
DSITF  1.41  0.62  0.00 (0.67) 0.00 
 5.56 
 21.62 
NVDA  2.52  0.45  0.14 (1.48) 2.90 
 5.15 
 14.12 
ELDFX  0.36  0.04  0.11  0.69  0.35 
 0.83 
 1.93 
WMT  0.72  0.18  0.23  0.45  0.52 
 1.46 
 8.88 
BA  1.42 (0.05) 0.00 (0.05) 0.00 
 3.37 
 11.86 
DD  0.89  0.14  0.14  0.21  0.90 
 1.57 
 9.89 

Be your own money manager

Our tools can tell you how much better you can do entering a position in HUMANA without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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