Correlation Between Global Real and HUMANA
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By analyzing existing cross correlation between Global Real Estate and HUMANA INC, you can compare the effects of market volatilities on Global Real 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 Global Real with a short position of HUMANA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global Real and HUMANA.
Diversification Opportunities for Global Real and HUMANA
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Global and HUMANA is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Global Real Estate and HUMANA INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUMANA INC and Global Real 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 Global Real Estate 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 Global Real i.e., Global Real and HUMANA go up and down completely randomly.
Pair Corralation between Global Real and HUMANA
If you would invest 457.00 in Global Real Estate on September 12, 2024 and sell it today you would earn a total of 0.00 from holding Global Real Estate or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 52.38% |
Values | Daily Returns |
Global Real Estate vs. HUMANA INC
Performance |
Timeline |
Global Real Estate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
HUMANA INC |
Global Real and HUMANA Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Global Real and HUMANA
The main advantage of trading using opposite Global Real and HUMANA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global Real 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.Global Real vs. HUMANA INC | Global Real vs. Barloworld Ltd ADR | Global Real vs. Morningstar Unconstrained Allocation | Global Real vs. Thrivent High Yield |
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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