Correlation Between MetLife and 291011BS2
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By analyzing existing cross correlation between MetLife and EMR 28 21 DEC 51, you can compare the effects of market volatilities on MetLife and 291011BS2 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 291011BS2. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 291011BS2.
Diversification Opportunities for MetLife and 291011BS2
Very good diversification
The 3 months correlation between MetLife and 291011BS2 is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and EMR 28 21 DEC 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EMR 28 21 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 291011BS2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EMR 28 21 has no effect on the direction of MetLife i.e., MetLife and 291011BS2 go up and down completely randomly.
Pair Corralation between MetLife and 291011BS2
Considering the 90-day investment horizon MetLife is expected to generate 0.86 times more return on investment than 291011BS2. However, MetLife is 1.16 times less risky than 291011BS2. It trades about 0.08 of its potential returns per unit of risk. EMR 28 21 DEC 51 is currently generating about -0.01 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 | 84.38% |
| Values | Daily Returns |
MetLife vs. EMR 28 21 DEC 51
Performance |
| Timeline |
| MetLife |
| EMR 28 21 |
MetLife and 291011BS2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 291011BS2
The main advantage of trading using opposite MetLife and 291011BS2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 291011BS2 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 291011BS2 will offset losses from the drop in 291011BS2's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
| 291011BS2 vs. AEP TEX INC | 291011BS2 vs. US BANK NATIONAL | 291011BS2 vs. Alphabet Inc Class C | 291011BS2 vs. InMode |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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