Correlation Between American Commerce and HUMANA
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By analyzing existing cross correlation between American Commerce Solutions and HUMANA INC, you can compare the effects of market volatilities on American Commerce and HUMANA 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 American Commerce with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Commerce and HUMANA.
Diversification Opportunities for American Commerce and HUMANA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between American and HUMANA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding American Commerce Solutions and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and American Commerce 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 American Commerce Solutions are associated (or correlated) with HUMANA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HUMANA INC has no effect on the direction of American Commerce i.e., American Commerce and HUMANA go up and down completely randomly.
Pair Corralation between American Commerce and HUMANA
If you would invest 0.01 in American Commerce Solutions on December 3, 2024 and sell it today you would earn a total of 0.00 from holding American Commerce Solutions or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 96.77% |
Values | Daily Returns |
American Commerce Solutions vs. HUMANA INC
Performance |
Timeline |
American Commerce |
HUMANA INC |
American Commerce and HUMANA Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with American Commerce and HUMANA
The main advantage of trading using opposite American Commerce and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Commerce position performs unexpectedly, HUMANA 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 HUMANA will offset losses from the drop in HUMANA's long position.American Commerce vs. Aumann AG | American Commerce vs. Alfa Laval AB | American Commerce vs. Arista Power | American Commerce vs. Atlas Copco AB |
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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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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