Correlation Between MetLife and 251526CS6
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By analyzing existing cross correlation between MetLife and DB 672 18 JAN 29, you can compare the effects of market volatilities on MetLife and 251526CS6 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 251526CS6. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 251526CS6.
Diversification Opportunities for MetLife and 251526CS6
Excellent diversification
The 3 months correlation between MetLife and 251526CS6 is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and DB 672 18 JAN 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DB 672 18 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 251526CS6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DB 672 18 has no effect on the direction of MetLife i.e., MetLife and 251526CS6 go up and down completely randomly.
Pair Corralation between MetLife and 251526CS6
Considering the 90-day investment horizon MetLife is expected to generate 4.67 times more return on investment than 251526CS6. However, MetLife is 4.67 times more volatile than DB 672 18 JAN 29. It trades about 0.11 of its potential returns per unit of risk. DB 672 18 JAN 29 is currently generating about 0.03 per unit of risk. If you would invest 5,149 in MetLife on September 4, 2024 and sell it today you would earn a total of 3,539 from holding MetLife or generate 68.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 93.57% |
| Values | Daily Returns |
MetLife vs. DB 672 18 JAN 29
Performance |
| Timeline |
| MetLife |
| DB 672 18 |
MetLife and 251526CS6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 251526CS6
The main advantage of trading using opposite MetLife and 251526CS6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 251526CS6 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 251526CS6 will offset losses from the drop in 251526CS6's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| 251526CS6 vs. Coty Inc | 251526CS6 vs. Stepan Company | 251526CS6 vs. Verra Mobility Corp | 251526CS6 vs. Volaris |
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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