Correlation Between HUMANA and Quadratic Interest
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By analyzing existing cross correlation between HUMANA INC and Quadratic Interest Rate, you can compare the effects of market volatilities on HUMANA and Quadratic Interest 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 Quadratic Interest. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Quadratic Interest.
Diversification Opportunities for HUMANA and Quadratic Interest
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between HUMANA and Quadratic is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Quadratic Interest Rate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Quadratic Interest Rate 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 Quadratic Interest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quadratic Interest Rate has no effect on the direction of HUMANA i.e., HUMANA and Quadratic Interest go up and down completely randomly.
Pair Corralation between HUMANA and Quadratic Interest
Assuming the 90 days trading horizon HUMANA INC is expected to generate 76.32 times more return on investment than Quadratic Interest. However, HUMANA is 76.32 times more volatile than Quadratic Interest Rate. It trades about 0.07 of its potential returns per unit of risk. Quadratic Interest Rate is currently generating about -0.04 per unit of risk. If you would invest 8,429 in HUMANA INC on December 30, 2023 and sell it today you would lose (333.00) from holding HUMANA INC or give up 3.95% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 91.09% |
Values | Daily Returns |
HUMANA INC vs. Quadratic Interest Rate
Performance |
Timeline |
HUMANA INC |
Quadratic Interest Rate |
HUMANA and Quadratic Interest Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with HUMANA and Quadratic Interest
The main advantage of trading using opposite HUMANA and Quadratic Interest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Quadratic Interest 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 Quadratic Interest will offset losses from the drop in Quadratic Interest's long position.HUMANA vs. AEP TEX INC | HUMANA vs. US BANK NATIONAL | HUMANA vs. Vyne Therapeutics | HUMANA vs. Advanced Drainage Systems |
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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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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