Correlation Between HUMANA and Spectrum Fund
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By analyzing existing cross correlation between HUMANA INC and Spectrum Fund Adviser, you can compare the effects of market volatilities on HUMANA and Spectrum Fund 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 Spectrum Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of HUMANA and Spectrum Fund.
Diversification Opportunities for HUMANA and Spectrum Fund
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HUMANA and Spectrum is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HUMANA INC and Spectrum Fund Adviser in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Spectrum Fund Adviser 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 Spectrum Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Spectrum Fund Adviser has no effect on the direction of HUMANA i.e., HUMANA and Spectrum Fund go up and down completely randomly.
Pair Corralation between HUMANA and Spectrum Fund
If you would invest 7,898 in HUMANA INC on March 8, 2024 and sell it today you would earn a total of 198.00 from holding HUMANA INC or generate 2.51% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 2.44% |
Values | Daily Returns |
HUMANA INC vs. Spectrum Fund Adviser
Performance |
Timeline |
HUMANA INC |
Spectrum Fund Adviser |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
HUMANA and Spectrum Fund Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with HUMANA and Spectrum Fund
The main advantage of trading using opposite HUMANA and Spectrum Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HUMANA position performs unexpectedly, Spectrum Fund 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 Spectrum Fund will offset losses from the drop in Spectrum Fund's long position.The idea behind HUMANA INC and Spectrum Fund Adviser pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.Spectrum Fund vs. Ab Bond Inflation | Spectrum Fund vs. Blackrock Inflation Protected | Spectrum Fund vs. Ab Bond Inflation | Spectrum Fund vs. Goldman Sachs Inflation |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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