Correlation Between MetLife and 00108WAN0
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By analyzing existing cross correlation between MetLife and AEP 345 15 MAY 51, you can compare the effects of market volatilities on MetLife and 00108WAN0 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 MetLife with a short position of 00108WAN0. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 00108WAN0.
Diversification Opportunities for MetLife and 00108WAN0
Weak diversification
The 3 months correlation between MetLife and 00108WAN0 is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and AEP 345 15 MAY 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEP 345 15 and MetLife 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 MetLife are associated (or correlated) with 00108WAN0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEP 345 15 has no effect on the direction of MetLife i.e., MetLife and 00108WAN0 go up and down completely randomly.
Pair Corralation between MetLife and 00108WAN0
Considering the 90-day investment horizon MetLife is expected to generate 0.65 times more return on investment than 00108WAN0. However, MetLife is 1.54 times less risky than 00108WAN0. It trades about 0.08 of its potential returns per unit of risk. AEP 345 15 MAY 51 is currently generating about 0.01 per unit of risk. If you would invest 5,809 in MetLife on September 12, 2024 and sell it today you would earn a total of 2,365 from holding MetLife or generate 40.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 57.95% |
| Values | Daily Returns |
MetLife vs. AEP 345 15 MAY 51
Performance |
| Timeline |
| MetLife |
| AEP 345 15 |
MetLife and 00108WAN0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 00108WAN0
The main advantage of trading using opposite MetLife and 00108WAN0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 00108WAN0 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 00108WAN0 will offset losses from the drop in 00108WAN0's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
| 00108WAN0 vs. AEP TEX INC | 00108WAN0 vs. US BANK NATIONAL | 00108WAN0 vs. Alphabet Inc Class C | 00108WAN0 vs. InMode |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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