Humana Correlations

HUM Etf

USD 267.34 2.44 0.90%

The current 90-days correlation between Humana Inc and Elevance Health is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Humana moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Humana Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Humana Correlation With Market

Very weak diversification

The correlation between Humana Inc and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Humana Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Humana Inc. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Humana Etf

0.69	ELMD	Electromed	Pair Corr
0.71	AMN	AMN Healthcare Services	Pair Corr

Moving against Humana Etf

0.32	EW	Edwards Lifesciences Corp	Pair Corr
0.43	ESTA	Establishment Labs	Pair Corr
0.43	BKD	Brookdale Senior Living	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.14	0.66	-0.48	0.43	0.36	0.16	0.89	-0.77	0.14	META
MSFT	-0.14		-0.64	0.31	-0.77	0.65	0.89	0.0	0.49	-0.33	MSFT
UBER	0.66	-0.64		-0.48	0.8	-0.23	-0.55	0.58	-0.86	0.46	UBER
F	-0.48	0.31	-0.48		-0.2	0.12	0.15	-0.38	0.62	0.23	F
T	0.43	-0.77	0.8	-0.2		-0.54	-0.68	0.25	-0.68	0.48	T
A	0.36	0.65	-0.23	0.12	-0.54		0.75	0.58	0.12	-0.11	A
CRM	0.16	0.89	-0.55	0.15	-0.68	0.75		0.24	0.3	-0.38	CRM
JPM	0.89	0.0	0.58	-0.38	0.25	0.58	0.24		-0.65	0.16	JPM
MRK	-0.77	0.49	-0.86	0.62	-0.68	0.12	0.3	-0.65		-0.31	MRK
XOM	0.14	-0.33	0.46	0.23	0.48	-0.11	-0.38	0.16	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.89	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.75	A
UBER	+ 0.66	META
A	+ 0.65	MSFT

High negative correlations

MRK	- 0.86	UBER
T	- 0.77	MSFT
MRK	- 0.77	META
MRK	- 0.68	T
CRM	- 0.68	T
MRK	- 0.65	JPM

Humana Competition Risk-Adjusted Indicators

There is a big difference between Humana Etf performing well and Humana ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Humana's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.61	0.01	0.00	(0.08)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.11	(0.15)	0.00	(0.32)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.94	0.22	0.10	0.31	2.41	(2.00)	4.72	(3.30)	12.75
F	1.44	0.07	0.00	(0.03)	0.00	0.00	2.71	(2.89)	10.14
T	1.05	0.26	0.17	0.38	1.59	(1.13)	1.90	(1.75)	11.66
A	1.13	(0.12)	0.00	(0.22)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.23)	0.00	(0.30)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.09	0.06	0.00	(0.04)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.17	(0.07)	0.00	1.31	0.00	0.00	2.07	(1.80)	11.58
XOM	1.05	0.07	0.09	0.06	1.38	(1.09)	2.55	(2.36)	5.89

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