Humatech Correlations

HUMT Stock

USD 0 0.0006 22.22%

The current 90-days correlation between Humatech and CF Industries Holdings is 0.08 (i.e., Significant diversification). The correlation of Humatech is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Humatech Correlation With Market

Significant diversification

The correlation between Humatech and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Humatech and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Humatech Stock

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

For more information on how to buy Humatech Stock please use our How to Invest in Humatech guide.

Moving together with Humatech Stock

0.76	B	Barrick Mining Symbol Change	Pair Corr
0.85	AG	First Majestic Silver Aggressive Push	Pair Corr
0.66	AU	AngloGold Ashanti plc	Pair Corr
0.64	HL	Hecla Mining Aggressive Push	Pair Corr
0.66	MT	ArcelorMittal SA ADR	Pair Corr
0.72	NB	NioCorp Developments	Pair Corr
0.71	NG	NovaGold Resources Trending	Pair Corr
0.69	OR	Osisko Gold Ro	Pair Corr
0.85	SA	Seabridge Gold	Pair Corr
0.62	VALE	Vale SA ADR	Pair Corr
0.77	VOXR	Vox Royalty Corp	Pair Corr
0.71	VZLA	Vizsla Resources Corp	Pair Corr

Moving against Humatech Stock

0.81	NITO	N2OFF Inc	Pair Corr
0.69	CTVA	Corteva	Pair Corr
0.62	BIOX	Bioceres Crop Solutions	Pair Corr
0.61	FMC	FMC Corporation Downward Rally	Pair Corr
0.57	SMG	Scotts Miracle Gro	Pair Corr
0.45	CE	Celanese	Pair Corr
0.41	ENFY	Enlightify Symbol Change	Pair Corr
0.78	WLKP	Westlake Chemical	Pair Corr
0.4	HYMCL	Hycroft Mining Holding	Pair Corr
0.36	RS	Reliance Steel Aluminum	Pair Corr

Related Correlations Analysis

	CF	ENFY	AVD	FMC	ICL	IPI	MOS	NTR	SMG	UAN
CF		0.26	-0.7	0.63	0.76	0.89	0.88	0.95	0.66	-0.52	CF
ENFY	0.26		-0.23	0.48	0.5	0.3	0.12	0.21	0.53	-0.42	ENFY
AVD	-0.7	-0.23		-0.78	-0.72	-0.84	-0.67	-0.68	-0.79	0.61	AVD
FMC	0.63	0.48	-0.78		0.88	0.78	0.56	0.68	0.94	-0.72	FMC
ICL	0.76	0.5	-0.72	0.88		0.86	0.7	0.79	0.86	-0.76	ICL
IPI	0.89	0.3	-0.84	0.78	0.86		0.86	0.88	0.8	-0.65	IPI
MOS	0.88	0.12	-0.67	0.56	0.7	0.86		0.83	0.57	-0.51	MOS
NTR	0.95	0.21	-0.68	0.68	0.79	0.88	0.83		0.7	-0.53	NTR
SMG	0.66	0.53	-0.79	0.94	0.86	0.8	0.57	0.7		-0.77	SMG
UAN	-0.52	-0.42	0.61	-0.72	-0.76	-0.65	-0.51	-0.53	-0.77		UAN
	CF	ENFY	AVD	FMC	ICL	IPI	MOS	NTR	SMG	UAN

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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

NTR	+ 0.95	CF
SMG	+ 0.94	FMC
IPI	+ 0.89	CF
MOS	+ 0.88	CF
ICL	+ 0.88	FMC
NTR	+ 0.88	IPI

High negative correlations

IPI	- 0.84	AVD
SMG	- 0.79	AVD
FMC	- 0.78	AVD
UAN	- 0.77	SMG
UAN	- 0.76	ICL
UAN	- 0.72	FMC

Risk-Adjusted Indicators

There is a big difference between Humatech Stock performing well and Humatech Company 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 Humatech'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
CF	1.49	(0.10)	0.00	(0.22)	0.00	0.00	2.65	(3.05)	10.38
ENFY	2.44	(0.30)	0.00	(0.69)	0.00	0.00	4.95	(5.81)	16.36
AVD	2.94	0.45	0.14	0.35	3.07	(3.24)	8.37	(5.25)	21.78
FMC	1.65	(0.50)	0.00	(0.21)	0.00	0.00	3.44	(3.65)	10.45
ICL	1.31	(0.22)	0.00	(0.28)	0.00	0.00	2.72	(2.72)	6.94
IPI	2.04	(0.31)	0.00	(0.50)	0.00	0.00	4.37	(4.75)	14.04
MOS	1.56	(0.04)	(0.02)	0.01	2.81	(1.57)	3.28	(3.17)	16.88
NTR	1.07	(0.04)	0.00	(0.15)	0.00	0.00	1.70	(2.10)	6.76
SMG	1.44	(0.27)	0.00	(0.10)	0.00	0.00	2.79	(2.53)	11.29
UAN	0.91	0.09	0.01	(1.39)	0.93	(1.06)	1.73	(1.56)	9.19

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