Correlation Between MetLife and 00913RAF3
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By analyzing existing cross correlation between MetLife and AIFP 225 10 SEP 29, you can compare the effects of market volatilities on MetLife and 00913RAF3 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 00913RAF3. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 00913RAF3.
Diversification Opportunities for MetLife and 00913RAF3
Significant diversification
The 3 months correlation between MetLife and 00913RAF3 is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and AIFP 225 10 SEP 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIFP 225 10 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 00913RAF3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIFP 225 10 has no effect on the direction of MetLife i.e., MetLife and 00913RAF3 go up and down completely randomly.
Pair Corralation between MetLife and 00913RAF3
Considering the 90-day investment horizon MetLife is expected to generate 5.26 times more return on investment than 00913RAF3. However, MetLife is 5.26 times more volatile than AIFP 225 10 SEP 29. It trades about 0.3 of its potential returns per unit of risk. AIFP 225 10 SEP 29 is currently generating about 0.17 per unit of risk. If you would invest 7,801 in MetLife on September 4, 2024 and sell it today you would earn a total of 887.00 from holding MetLife or generate 11.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 28.57% |
| Values | Daily Returns |
MetLife vs. AIFP 225 10 SEP 29
Performance |
| Timeline |
| MetLife |
| AIFP 225 10 |
MetLife and 00913RAF3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 00913RAF3
The main advantage of trading using opposite MetLife and 00913RAF3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 00913RAF3 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 00913RAF3 will offset losses from the drop in 00913RAF3's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| 00913RAF3 vs. AEP TEX INC | 00913RAF3 vs. US BANK NATIONAL | 00913RAF3 vs. MetLife | 00913RAF3 vs. Brera Holdings PLC |
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 CEOs Directory module to screen CEOs from public companies around the world.
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