Correlation Between HUMANA and American High
Specify exactly 2 symbols:
By analyzing existing cross correlation between HUMANA INC and American High Income, you can compare the effects of market volatilities on HUMANA and American High 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 American High. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and American High.
Diversification Opportunities for HUMANA and American High
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and American is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and American High Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on American High Income 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 American High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American High Income has no effect on the direction of HUMANA i.e., HUMANA and American High go up and down completely randomly.
Pair Corralation between HUMANA and American High
If you would invest 7,931 in HUMANA INC on March 18, 2024 and sell it today you would earn a total of 101.00 from holding HUMANA INC or generate 1.27% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 5.56% |
Values | Daily Returns |
HUMANA INC vs. American High Income
Performance |
Timeline |
HUMANA INC |
American High Income |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
HUMANA and American High Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with HUMANA and American High
The main advantage of trading using opposite HUMANA and American High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, American High 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 American High will offset losses from the drop in American High's long position.HUMANA vs. Nextera Energy | HUMANA vs. CenterPoint Energy | HUMANA vs. CECO Environmental Corp | HUMANA vs. ChampionX |
American High vs. Davis Real Estate | American High vs. Dunham Real Estate | American High vs. Nuveen Real Estate | American High vs. Prudential Real Estate |
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.
Other Complementary Tools
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |