Correlation Between MetLife and 064058AJ9
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By analyzing existing cross correlation between MetLife and BK 37, you can compare the effects of market volatilities on MetLife and 064058AJ9 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 064058AJ9. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 064058AJ9.
Diversification Opportunities for MetLife and 064058AJ9
Good diversification
The 3 months correlation between MetLife and 064058AJ9 is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and BK 37 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 064058AJ9 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 064058AJ9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 064058AJ9 has no effect on the direction of MetLife i.e., MetLife and 064058AJ9 go up and down completely randomly.
Pair Corralation between MetLife and 064058AJ9
Considering the 90-day investment horizon MetLife is expected to generate 0.7 times more return on investment than 064058AJ9. However, MetLife is 1.42 times less risky than 064058AJ9. It trades about -0.01 of its potential returns per unit of risk. BK 37 is currently generating about -0.2 per unit of risk. If you would invest 8,644 in MetLife on December 1, 2024 and sell it today you would lose (26.00) from holding MetLife or give up 0.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
MetLife vs. BK 37
Performance |
| Timeline |
| MetLife |
| 064058AJ9 |
MetLife and 064058AJ9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 064058AJ9
The main advantage of trading using opposite MetLife and 064058AJ9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 064058AJ9 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 064058AJ9 will offset losses from the drop in 064058AJ9's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Brighthouse Financial | MetLife vs. Unum Group |
| 064058AJ9 vs. Grupo Aeroportuario del | 064058AJ9 vs. MGP Ingredients | 064058AJ9 vs. Wizz Air Holdings | 064058AJ9 vs. Delta Air Lines |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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