Correlation Between MetLife and CSNABZ
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By analyzing existing cross correlation between MetLife and CSNABZ 4625 10 JUN 31, you can compare the effects of market volatilities on MetLife and CSNABZ 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 CSNABZ. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and CSNABZ.
Diversification Opportunities for MetLife and CSNABZ
Good diversification
The 3 months correlation between MetLife and CSNABZ is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and CSNABZ 4625 10 JUN 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CSNABZ 4625 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 CSNABZ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CSNABZ 4625 10 has no effect on the direction of MetLife i.e., MetLife and CSNABZ go up and down completely randomly.
Pair Corralation between MetLife and CSNABZ
Considering the 90-day investment horizon MetLife is expected to generate 0.49 times more return on investment than CSNABZ. However, MetLife is 2.04 times less risky than CSNABZ. It trades about 0.08 of its potential returns per unit of risk. CSNABZ 4625 10 JUN 31 is currently generating about 0.03 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 Against |
| Strength | Insignificant |
| Accuracy | 26.7% |
| Values | Daily Returns |
MetLife vs. CSNABZ 4625 10 JUN 31
Performance |
| Timeline |
| MetLife |
| CSNABZ 4625 10 |
MetLife and CSNABZ Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and CSNABZ
The main advantage of trading using opposite MetLife and CSNABZ positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, CSNABZ 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 CSNABZ will offset losses from the drop in CSNABZ's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
| CSNABZ vs. WPP PLC ADR | CSNABZ vs. MI Homes | CSNABZ vs. Franklin Street Properties | CSNABZ vs. Haverty Furniture Companies |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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