MetLife Correlations

METB34 Stock

BRL 527.96 18.33 3.60%

The current 90-days correlation between MetLife and Electronic Arts is 0.05 (i.e., Significant diversification). The correlation of MetLife 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.

MetLife Correlation With Market

Average diversification

The correlation between MetLife and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MetLife could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MetLife when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MetLife - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MetLife to buy it.

Moving together with MetLife Stock

0.65	P1DT34	Prudential Financial	Pair Corr
0.75	P2LT34	Palantir Technologies	Pair Corr
0.74	A1LG34	Align Technology	Pair Corr
0.74	HOME34	Home Depot	Pair Corr
0.75	BOTZ39	Global X Funds	Pair Corr
0.78	B1BT34	Truist Financial	Pair Corr
0.63	D1OC34	DocuSign	Pair Corr
0.86	D1XC34	DXC Technology	Pair Corr
0.8	P2AX34	Patria Investments	Pair Corr

Moving against MetLife Stock

0.62

OSXB3

OSX Brasil SA

Pair Corr

Related Correlations Analysis

	EAIN34	I1RM34	BMOB3	XRAY34	P1SA34	CHCM34	E1XR34	F1NI34
EAIN34		0.32	-0.07	-0.55	0.6	0.9	0.56	0.2	EAIN34
I1RM34	0.32		0.76	-0.28	0.71	0.14	0.59	0.67	I1RM34
BMOB3	-0.07	0.76		-0.2	0.44	-0.22	0.25	0.61	BMOB3
XRAY34	-0.55	-0.28	-0.2		-0.43	-0.44	-0.4	-0.26	XRAY34
P1SA34	0.6	0.71	0.44	-0.43		0.4	0.76	0.4	P1SA34
CHCM34	0.9	0.14	-0.22	-0.44	0.4		0.44	0.09	CHCM34
E1XR34	0.56	0.59	0.25	-0.4	0.76	0.44		0.27	E1XR34
F1NI34	0.2	0.67	0.61	-0.26	0.4	0.09	0.27		F1NI34
	EAIN34	I1RM34	BMOB3	XRAY34	P1SA34	CHCM34	E1XR34	F1NI34

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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

CHCM34	+ 0.9	EAIN34
BMOB3	+ 0.76	I1RM34
E1XR34	+ 0.76	P1SA34
P1SA34	+ 0.71	I1RM34
F1NI34	+ 0.67	I1RM34
F1NI34	+ 0.61	BMOB3

High negative correlations

XRAY34	- 0.55	EAIN34
CHCM34	- 0.44	XRAY34
P1SA34	- 0.43	XRAY34
E1XR34	- 0.4	XRAY34
XRAY34	- 0.28	I1RM34
F1NI34	- 0.26	XRAY34

Risk-Adjusted Indicators

There is a big difference between MetLife Stock performing well and MetLife 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 MetLife'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
EAIN34	0.99	0.10	0.06	(2.27)	1.06	(1.09)	2.30	(1.78)	5.69
I1RM34	1.25	(0.09)	0.00	(2.74)	0.00	0.00	2.89	(3.35)	12.29
BMOB3	1.71	(0.04)	0.00	(0.45)	0.00	0.00	3.09	(3.61)	15.66
XRAY34	0.01	(0.01)	0.00	1.59	0.00	0.00	0.00	0.00	0.49
P1SA34	0.85	(0.08)	0.00	2.71	0.00	0.00	2.41	(2.66)	14.62
CHCM34	1.73	0.23	0.08	0.56	2.40	(1.78)	3.88	(3.66)	23.36
E1XR34	1.42	(0.07)	0.00	(0.13)	0.00	0.00	5.10	(7.07)	16.67
F1NI34	0.81	0.03	0.00	(0.30)	1.05	(1.61)	2.22	(1.85)	10.80

Be your own money manager

Our tools can tell you how much better you can do entering a position in MetLife without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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