Petra Bakosova - Health Care Insider
Stakeholder Petra Bakosova is not found or was disassociated from the entity Health Care Select
If you believe Petra Bakosova is a valid insider of Health Care Select please let us know and we will check it out.
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Pair Trading with Health Care
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Health Care position performs unexpectedly, the other equity 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 Health Care will appreciate offsetting losses from the drop in the long position's value.Moving together with Health Etf
| 0.98 | VHT | Vanguard Health Care | PairCorr |
| 0.94 | IBB | iShares Biotechnology ETF | PairCorr |
| 0.8 | XBI | SPDR SP Biotech | PairCorr |
| 0.8 | IHI | iShares Medical Devices | PairCorr |
The ability to find closely correlated positions to Health Care could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Health Care 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 Health Care - 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 Health Care Select to buy it.
The correlation of Health Care 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Health Care moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Health Care Select moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Health Care can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Health Care Select. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
The market value of Health Care Select is measured differently than its book value, which is the value of Health that is recorded on the company's balance sheet. Investors also form their own opinion of Health Care's value that differs from its market value or its book value, called intrinsic value, which is Health Care's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Health Care's market value can be influenced by many factors that don't directly affect Health Care's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Health Care's value and its price as these two are different measures arrived at by different means. Investors typically determine if Health Care is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Health Care's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.