Correlation Between MetLife and 15089QAN4
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By analyzing existing cross correlation between MetLife and CE 633 15 JUL 29, you can compare the effects of market volatilities on MetLife and 15089QAN4 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 15089QAN4. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 15089QAN4.
Diversification Opportunities for MetLife and 15089QAN4
Excellent diversification
The 3 months correlation between MetLife and 15089QAN4 is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and CE 633 15 JUL 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CE 633 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 15089QAN4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CE 633 15 has no effect on the direction of MetLife i.e., MetLife and 15089QAN4 go up and down completely randomly.
Pair Corralation between MetLife and 15089QAN4
Considering the 90-day investment horizon MetLife is expected to generate 2.85 times more return on investment than 15089QAN4. However, MetLife is 2.85 times more volatile than CE 633 15 JUL 29. It trades about 0.25 of its potential returns per unit of risk. CE 633 15 JUL 29 is currently generating about -0.16 per unit of risk. If you would invest 7,801 in MetLife on September 5, 2024 and sell it today you would earn a total of 771.00 from holding MetLife or generate 9.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
MetLife vs. CE 633 15 JUL 29
Performance |
| Timeline |
| MetLife |
| CE 633 15 |
MetLife and 15089QAN4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 15089QAN4
The main advantage of trading using opposite MetLife and 15089QAN4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 15089QAN4 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 15089QAN4 will offset losses from the drop in 15089QAN4's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. CNO Financial Group |
| 15089QAN4 vs. AEP TEX INC | 15089QAN4 vs. US BANK NATIONAL | 15089QAN4 vs. MetLife | 15089QAN4 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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