Correlation Between Health Assurance and Vertex Energy

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Health Assurance and Vertex Energy at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Health Assurance and Vertex Energy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Health Assurance Acquisition and Vertex Energy, you can compare the effects of market volatilities on Health Assurance and Vertex Energy 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 Health Assurance with a short position of Vertex Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Health Assurance and Vertex Energy.

Diversification Opportunities for Health Assurance and Vertex Energy

  Correlation Coefficient

Very good diversification

The 3 months correlation between Health and Vertex is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Health Assurance Acquisition and Vertex Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vertex Energy and Health Assurance 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 Health Assurance Acquisition are associated (or correlated) with Vertex Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vertex Energy has no effect on the direction of Health Assurance i.e., Health Assurance and Vertex Energy go up and down completely randomly.

Pair Corralation between Health Assurance and Vertex Energy

Assuming the 90 days horizon Health Assurance Acquisition is expected to generate 0.02 times more return on investment than Vertex Energy. However, Health Assurance Acquisition is 53.28 times less risky than Vertex Energy. It trades about 0.04 of its potential returns per unit of risk. Vertex Energy is currently generating about -0.13 per unit of risk. If you would invest  991.00  in Health Assurance Acquisition on May 14, 2022 and sell it today you would earn a total of  3.00  from holding Health Assurance Acquisition or generate 0.3% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
ValuesDaily Returns

Health Assurance Acquisition  vs.  Vertex Energy

 Performance (%) 
Health Assurance Acq 
Health Performance
4 of 100
Compared to the overall equity markets, risk-adjusted returns on investments in Health Assurance Acquisition are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable fundamental indicators, Health Assurance is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Health Price Channel

Vertex Energy 
Vertex Performance
0 of 100
Over the last 90 days Vertex Energy has generated negative risk-adjusted returns adding no value to investors with long positions. Even with weak performance in the last few months, the Stock's basic indicators remain relatively invariable which may send shares a bit higher in September 2022. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Vertex Price Channel

Health Assurance and Vertex Energy Volatility Contrast

   Predicted Return Density   

Pair Trading with Health Assurance and Vertex Energy

The main advantage of trading using opposite Health Assurance and Vertex Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Health Assurance position performs unexpectedly, Vertex Energy 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 Vertex Energy will offset losses from the drop in Vertex Energy's long position.

Health Assurance Acquisition

Pair trading matchups for Health Assurance

The idea behind Health Assurance Acquisition and Vertex Energy 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.

Vertex Energy

Pair trading matchups for Vertex Energy

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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.

Other Complementary Tools

Performance Analysis
Check effects of mean-variance optimization against your current asset allocation
Equity Forecasting
Use basic forecasting models to generate price predictions and determine price momentum
Commodity Channel Index
Use Commodity Channel Index to analyze current equity momentum
Stock Screener
Find equities using custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook.
Cryptocurrency Center
Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Price Ceiling Movement
Calculate and plot Price Ceiling Movement for different equity instruments
Sync Your Broker
Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.