# Correlation Between HUMANA and Simplify Macro

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By analyzing existing cross correlation between HUMANA INC and Simplify Macro Strategy, you can compare the effects of market volatilities on HUMANA and Simplify Macro 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 Simplify Macro. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Simplify Macro.

## Diversification Opportunities for HUMANA and Simplify Macro

0.04 | Correlation Coefficient |

### Significant diversification

The 3 months correlation between HUMANA and Simplify is

**0.04**. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Simplify Macro Strategy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Simplify Macro Strategy 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 Simplify Macro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Simplify Macro Strategy has no effect on the direction of HUMANA i.e., HUMANA and Simplify Macro go up and down completely randomly.## Pair Corralation between HUMANA and Simplify Macro

Assuming the 90 days trading horizon HUMANA INC is expected to generate 127.78 times more return on investment than Simplify Macro. However, HUMANA is 127.78 times more volatile than Simplify Macro Strategy. It trades about 0.07 of its potential returns per unit of risk. Simplify Macro Strategy is currently generating about 0.0 per unit of risk. If you would invest

**8,350**in HUMANA INC on**January 15, 2024**and sell it today you would**earn a total of 62.00**from holding HUMANA INC or generate**0.74%**return on investment over**90**days.Time Period | 3 Months [change] |

Direction | Moves Together |

Strength | Insignificant |

Accuracy | 93.96% |

Values | Daily Returns |

## HUMANA INC vs. Simplify Macro Strategy

Performance |

Timeline |

HUMANA INC |

Simplify Macro Strategy |

## HUMANA and Simplify Macro Volatility Contrast

Predicted Return Density |

Returns |

## Pair Trading with HUMANA and Simplify Macro

The main advantage of trading using opposite HUMANA and Simplify Macro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Simplify Macro 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 Simplify Macro will offset losses from the drop in Simplify Macro's long position.HUMANA vs. AEP TEX INC | ||

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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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.

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