# How Humana (HUM) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/hum
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on HUM alone. It places HUM (Humana Inc.) against 14 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where HUM stands in the market, and of the alternatives worth a closer look.

Period covered: HUM's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 6 months, HUM rose 104% against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. That said, HUM is 20.9% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record.
- **Stock or market?:** HUM's 7.3% gain over the past 3 months is part of a broader managed health care rally: the managed health care ETF IHF (iShares U.S. Healthcare Providers ETF) rose 7.1%, with ELV (Elevance Health, up 15.7%) and CI (Cigna, up 8.6%). Last month cut against the tape: HUM rose 12.9% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** HUM has run far ahead of the market, rising 52.1% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. Even so, the long record (ahead of 54% of the stocks worth at least $300 million over 10 years) has not carried into the past 3 years (behind 84% of them).
- **Long term:** HUM turned $10,000 into $26,600 over the past decade, against $42,100 in the S&P 500.
- **In a crash:** The Covid crash took 43.4% off HUM, against 33.7% for the S&P 500, and more than managed health care peers such as UNH (UnitedHealth Group, 35.9%). HUM fell further than the S&P 500 in three of the last four sell-offs, including the Covid crash (43.4% against 33.7%).
- **Diversification:** Against the S&P 500, HUM has a correlation of 0.28 over 5 years, less closely than 74% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. Even so, over 10 years, HUM's beta versus the S&P 500 was 0.82: 70% of the S&P 500's gains in rising months and 80% of its losses in falling ones.
- **Better options**
  - **Nearby categories and themes:** CAH (Cardinal Health, health care distribution) and MCK (McKesson, health care distribution) earned more than HUM with less volatility over the past 5 years. CAH returned 42.1% a year at 24.7% volatility, against a loss of 0.3% a year at 38.5%.
  - **Whole market:** 1,719 of the 3,633 stocks and funds worth at least $500 million earned more than HUM with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).

## How much would $10,000 in HUM have grown?

This chart tracks a hypothetical $10,000 investment in HUM over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of HUM over the same span and HUM's popular alternatives, among those that traded for the entire period.

- $10,000 invested in HUM at the end of September 1997 would have grown to $183,971 by September 2026, more than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of HUM, and UNH finished highest, at $772,802.

## HUM at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- HUM's deepest decline since it began trading in 1986 was 85.1%, from July 1998 to June 2000. It took about five years from the low to climb back to its old high.
- HUM is still 20.9% below its all-time high.
- Over 29 full calendar years, HUM's best was 2003, when it returned 128%, and its worst was 1999, when it lost 54.0%. It lost money in eight of those years.

- Type: Stock, Healthcare (Medical - Healthcare Plans)
- Trading since: October 17, 1986
- Market value: $51B
- Volatility (5 years): 38.5%; Sharpe ratio: 0.19
- Worst decline ever: −85.1%, from July 1, 1998 to June 16, 2000; back at its high by January 13, 2005

| Period | HUM total return |
| --- | --- |
| 1 month | +12.9% |
| 3 months | +7.3% |
| 6 months | +104% |
| year to date | +62.8% |
| 1 year | +52.1% |
| 3 years | −15.1% |
| 5 years | −1.3% |
| 10 years | +166% |

## HUM against the whole market

Where HUM ranks among every stock and fund, and what across the market has done better.

### How does HUM rank among all stocks?

This section ranks HUM on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- HUM's 3-year return ranks in the bottom 16% of the 3,017 stocks worth at least $300 million with 3 years of history.
- HUM's 1-year return ranks in the top 16% of the 3,287 stocks worth at least $300 million with 1 year of history.

| Measure | HUM | Rank |
| --- | --- | --- |
| 1-year return | +52.1% | 527 of 3,287 (top 17%) |
| 3-year return | −15.1% | 2,526 of 3,017 (top 84%) |
| 5-year return | −1.3% | 1,745 of 2,893 (top 61%) |
| 10-year return | +166% | 1,004 of 2,202 (top 46%) |
| Volatility, 5 years | 38.5% | 1,364 of 2,893 (top 48%) |
| Sharpe ratio, 5 years | 0.19 | 1,876 of 2,893 (top 65%) |
| Worst decline, past 10 years | −69.9% | 1,287 of 2,187 (top 59%) |

### What has beaten HUM on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 876 stocks and 843 ETFs worth at least $500 million sit in the green region: each earned more than HUM over the past 5 years with smaller price swings. That is 47% of the 3,633 screened.
- Among those with at least half HUM's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 36% less than HUM's 38.5%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.19 for HUM. MPC earned the most, 51.2% a year, while still swinging less than HUM (33.4% against 38.5%).
- Among HUM's popular alternatives, HCA, VTR and CI are in the region. HCA earned 14.1% a year against a loss of 0.3% a year for HUM, at 30.1% volatility, 22% less than HUM's 38.5%.

### Is there a better investment than HUM?

The table below lists investments that beat HUM over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among HUM's popular alternatives, CI, HCA and CVS earned more than HUM with less volatility over the past 5 years. CI returned 9.4% a year at 28.3% volatility, against a loss of 0.3% a year at 38.5%.
- Looking beyond its popular alternatives, CAH (health care distribution) and MCK (health care distribution) earned more than HUM with less volatility over the past 5 years. CAH returned 42.1% a year at 24.7% volatility, against a loss of 0.3% a year at 38.5%.
- Across the whole market, 1,719 of the 3,633 stocks and funds worth at least $500 million earned more than HUM with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.

The 15 strongest of 1,719 investments that beat HUM over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with HUM | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| HUM: Humana Inc. (this page) |  | −0.3% | 38.5% | 0.19 | −69.9% | +166% |  |  |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | Integrated Oil & Gas | +27.1% | 26.5% | 1.04 | −61.0% | +214% | -0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| NHC: National HealthCare Corporation | Medical - Care Facilities | +32.0% | 28.5% | 1.12 | −35.3% | +394% | 0.23 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.07 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | Pharmaceuticals | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [TTE](https://easycompare.io/research/tte): TotalEnergies SE | Integrated Oil & Gas | +18.0% | 25.8% | 0.78 | −59.6% | +234% | -0.08 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [PSX](https://easycompare.io/research/psx): Phillips 66 | Oil & Gas | +33.2% | 32.9% | 1.04 | −64.2% | +430% | 0.00 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MAR](https://easycompare.io/research/mar): Marriott International, Inc. | Hotels & Resorts | +22.0% | 28.6% | 0.84 | −61.3% | +544% | 0.13 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [E](https://easycompare.io/research/e): Eni S.p.A. | Integrated Oil & Gas | +23.0% | 25.6% | 0.94 | −61.4% | +278% | -0.06 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [BP](https://easycompare.io/research/bp): BP p.l.c. | Integrated Oil & Gas | +16.0% | 28.7% | 0.66 | −63.9% | +141% | -0.13 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [NTAP](https://easycompare.io/research/ntap): NetApp, Inc. | Computer Hardware | +20.9% | 35.3% | 0.71 | −58.1% | +691% | 0.31 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.05 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| RPRX: Royalty Pharma plc | Pharmaceuticals | +13.3% | 23.8% | 0.65 | −49.7% | — | 0.23 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| FFIV: F5, Inc. | Cybersecurity | +17.1% | 30.8% | 0.67 | −54.6% | +287% | 0.19 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |

## HUM against its popular alternatives

The investments people most often weigh against HUM, compared period by period and year by year.

### How do HUM's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Seven of the 14 popular alternatives, led by HCA, VTR and CI, were both more rewarding and calmer than HUM over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, HUM returned -0.3% a year, less than the S&P 500's 12.7%, with higher volatility (38.5% against 17.1%).

### Has HUM consistently beaten its popular alternatives?

This section compares HUM with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Only one of the 14 popular alternatives, OSCR, outperformed HUM in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- HCA, CI and UHS earned more for the risk they took than HUM (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- HCA outperformed HUM over all three long-term periods but in only one of the five short-term ones, so HUM has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of HUM | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| HUM: Humana Inc. (this page) | +52.1% | −15.1% | −1.3% | +166% |  |  | 0.19 |
| OSCR: Oscar Health, Inc. | +66.8% | +560% | +107% | — | 3/5 short-term, 2/3 long-term | consistent | 0.57 |
| THC: Tenet Healthcare Corporation | +34.7% | +399% | +315% | +1,058% | 1/5 short-term, 3/3 long-term |  | 0.86 |
| [HCA](https://easycompare.io/research/hca): HCA Healthcare, Inc. | +8.3% | +97.6% | +93.6% | +513% | 1/5 short-term, 3/3 long-term |  | 0.59 |
| [ELV](https://easycompare.io/research/elv): Elevance Health Inc. | +26.8% | +2.0% | +11.7% | +307% | 1/5 short-term, 3/3 long-term |  | 0.23 |
| [CI](https://easycompare.io/research/ci): Cigna Corporation | +2.2% | +5.9% | +56.7% | +176% | 1/5 short-term, 3/3 long-term |  | 0.46 |
| CNC: Centene Corp. | +98.9% | −1.5% | +4.0% | +129% | 2/5 short-term, 2/3 long-term |  | 0.24 |
| UHS: Universal Health Services, Inc. | −10.0% | +50.9% | +42.4% | +55.7% | 1/5 short-term, 2/3 long-term |  | 0.38 |
| [UNH](https://easycompare.io/research/unh): UnitedHealth Group Incorporated | +18.1% | −15.3% | +5.5% | +241% | 0/5 short-term, 2/3 long-term |  | 0.20 |
| [VTR](https://easycompare.io/research/vtr): Ventas, Inc. | +23.9% | +126% | +79.3% | +91.0% | 0/5 short-term, 2/3 long-term |  | 0.59 |
| [CVS](https://easycompare.io/research/cvs): CVS Health Corp. | +18.5% | +52.5% | +29.2% | +47.0% | 0/5 short-term, 2/3 long-term |  | 0.32 |
| CLOV: Clover Health Investments, Corp. | +64.4% | +385% | −38.8% | — | 3/5 short-term, 1/3 long-term |  | 0.24 |
| DOCS: Doximity, Inc. | −51.0% | +51.0% | −54.1% | — | 2/5 short-term, 1/3 long-term |  | 0.08 |
| MOH: Molina Healthcare, Inc. | +11.3% | −37.0% | −24.3% | +277% | 0/5 short-term, 1/3 long-term |  | 0.07 |
| ALHC: Alignment Healthcare, Inc. | −51.1% | +19.9% | −55.8% | — | 0/5 short-term, 1/3 long-term |  | 0.08 |

### How did HUM do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where HUM ranked among its popular alternatives each year.

- HUM finished ahead of the S&P 500 in 15 of its 29 full calendar years, and behind it in each of the last three.
- Ranked against its popular alternatives each year, HUM finished in the top quarter in ten of 29 years and in the bottom quarter in two. In 2025, it ranked 8 of 15.
- Among its popular alternatives, HCA came out ahead of HUM most often, in eight of the 14 years both traded.

| Year | HUM | SPY |
| --- | --- | --- |
| 2025 | +2.4% | +17.7% |
| 2024 | −44.0% | +24.9% |
| 2023 | −9.9% | +26.2% |
| 2022 | +11.2% | −18.2% |
| 2021 | +13.8% | +28.7% |
| 2020 | +12.7% | +18.3% |
| 2019 | +28.9% | +31.2% |
| 2018 | +16.3% | −4.6% |
| 2017 | +22.6% | +21.7% |
| 2016 | +14.9% | +12.0% |

## Risk and diversification

How HUM has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were HUM's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all four of HUM's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: HUM fell 85.1% from July 1998 to June 2000, while the S&P 500 rose 30.8%.
- The slowest recovery came after HUM fell 85.1% from July 1998 to June 2000; it did not regain that peak until January 2005, five years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −85.1% | July 1, 1998 | June 16, 2000 | January 13, 2005 | +30.8% | dot-com bust |
| −78.4% | January 14, 2008 | March 5, 2009 | November 3, 2011 | −50.1% | 2008 financial crisis |
| −69.9% | November 3, 2022 | March 12, 2026 | not yet | +87.6% | 2023 regional bank crisis |
| −46.1% | April 16, 1991 | November 18, 1992 | May 6, 1993 | — |  |
| −45.6% | February 13, 1996 | July 15, 1996 | May 28, 1998 | −4.4% |  |

### How did HUM do in stock market crashes?

This section measures how far HUM, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, UNH held up best, falling less than HUM in seven of the ten crashes they both traded through.
- HUM fell further than the S&P 500 in five of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when HUM fell 78.4% and the S&P 500 fell 55.2%.

| Crash | Dates | HUM fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −45.3% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −78.4% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.7% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −17.5% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −17.3% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.1% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −22.8% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −43.4% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −20.9% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.0% | −3.4% |

### How closely does HUM move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Six of the ten popular alternatives had a higher capture ratio (upside capture divided by downside capture) than HUM's 0.87, led by MOH, THC and UNH.
- MOH took just 63% of the S&P 500's losses, against 80% for HUM, while still keeping 72% of its gains.
- Over the past 10 years, HUM captured 70% of the S&P 500's gains in rising months and 80% of its losses in falling months, with a beta of 0.82. Its share of the market's losses was larger than its share of the gains.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| HUM: Humana Inc. (this page) | 70.0% | 80.0% | 0.82 |
| THC: Tenet Healthcare Corporation | 173% | 168% | 1.87 |
| [HCA](https://easycompare.io/research/hca): HCA Healthcare, Inc. | 135% | 140% | 1.37 |
| [ELV](https://easycompare.io/research/elv): Elevance Health Inc. | 94.0% | 98.0% | 0.86 |
| [CI](https://easycompare.io/research/ci): Cigna Corporation | 66.0% | 74.0% | 0.58 |
| CNC: Centene Corp. | 69.0% | 94.0% | 0.80 |
| UHS: Universal Health Services, Inc. | 86.0% | 141% | 1.13 |
| [UNH](https://easycompare.io/research/unh): UnitedHealth Group Incorporated | 81.0% | 82.0% | 0.70 |
| [VTR](https://easycompare.io/research/vtr): Ventas, Inc. | 70.0% | 98.0% | 0.96 |
| [CVS](https://easycompare.io/research/cvs): CVS Health Corp. | 59.0% | 99.0% | 0.70 |
| MOH: Molina Healthcare, Inc. | 72.0% | 63.0% | 0.74 |

### What diversifies HUM?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in HUM into GLD would have cut the portfolio's volatility by 21% over the past 5 years and raised its annual return (+0.6% for HUM alone, +5.7% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of HUM over the past 5 years, with correlations of 0.09 or lower, and each still earned a positive 5-year return.
- MCK made money in five of the eight calendar years in which HUM lost money.

| Investment | Correlation with HUM | 5Y return | Volatility | Sharpe | Rose in HUM's 8 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.00 | +119% | 11.1% | 1.48 | 2 of 8 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.01 | +225% | 19.1% | 1.34 | 3 of 8 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.09 | +101% | 14.5% | 1.04 | 2 of 8 |
| HDV: iShares Core High Dividend ETF | 0.07 | +83.3% | 13.0% | 1.00 | 3 of 8 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.23 | +323% | 36.9% | 0.97 | 3 of 8 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.23 | +85.0% | 13.8% | 0.96 | 3 of 8 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | -0.21 | +126% | 18.9% | 0.96 | 4 of 8 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.44 | +136% | 20.8% | 0.93 | 2 of 8 |

## Common questions

### What was HUM's worst drawdown?

HUM's deepest decline since it began trading in 1986 was 85.1%, from July 1998 to June 2000. It took about five years from the low to climb back to its old high.

### What were HUM's best and worst years?

Over 29 full calendar years, HUM's best year was 2003, when it returned 128%. Its worst was 1999, with a return of -54.0%.

### Is there a better investment than HUM?

Among HUM's popular alternatives, CI, HCA and CVS earned more than HUM with less volatility over the past 5 years. CI returned 9.4% a year at 28.3% volatility, against a loss of 0.3% a year at 38.5%. Looking beyond its popular alternatives, CAH (health care distribution) and MCK (health care distribution) earned more than HUM with less volatility over the past 5 years. CAH returned 42.1% a year at 24.7% volatility, against a loss of 0.3% a year at 38.5%.

### Is HUM more volatile than the S&P 500?

Yes. HUM's volatility over the past 5 years was 38.5%, 2.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, HUM's return lands within 38.5% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is HUM's Sharpe ratio?

HUM's Sharpe ratio over the past 5 years was 0.19, against 0.79 for the S&P 500, so HUM earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is HUM with the S&P 500?

Over the past 5 years, HUM's monthly returns had a correlation of 0.28 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against HUM instead: the lower it is, the more that option would diversify a HUM holding.

### What are the best alternatives to HUM?

Of the 14 popular alternatives we compared, one outperformed HUM in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: OSCR.

### Did HUM outperform the S&P 500?

HUM finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +2.4%, against +17.7% for the index.

### How did HUM do in stock market crashes?

HUM fell less than the S&P 500 (SPY) in four of the ten major crashes it has traded through, and further in five. The clearest case was the 2008 financial crisis, when HUM fell 78.4% and the S&P 500 fell 55.2%.

### What diversifies HUM?

These had a low correlation with HUM over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation -0.00), DXJ (correlation 0.01) and EMLP (correlation 0.09); among large stocks, CAH (correlation 0.07), CLS (correlation 0.10) and FIX (correlation 0.18). A correlation near zero means the two have moved largely independently.

## More research

- [HCA Healthcare (HCA) Performance, Alternatives and Market Rank](https://easycompare.io/research/hca)
- [Elevance Health (ELV) Performance, Alternatives and Market Rank](https://easycompare.io/research/elv)
- [Cigna (CI) Performance, Alternatives and Market Rank](https://easycompare.io/research/ci)
- [UnitedHealth Group (UNH) Performance, Alternatives and Market Rank](https://easycompare.io/research/unh)
- [Ventas (VTR) Performance, Alternatives and Market Rank](https://easycompare.io/research/vtr)
- [CVS Health (CVS) Performance, Alternatives and Market Rank](https://easycompare.io/research/cvs)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)
- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)

## Explore further

- Full page with charts: https://easycompare.io/research/hum
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against HUM live: https://betterthanspy.com/?b=HUM&utm_source=easycompare&utm_medium=research