Correlation Between MetLife and 36158FAA8
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By analyzing existing cross correlation between MetLife and GE GLOBAL INS, you can compare the effects of market volatilities on MetLife and 36158FAA8 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 36158FAA8. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 36158FAA8.
Diversification Opportunities for MetLife and 36158FAA8
Significant diversification
The 3 months correlation between MetLife and 36158FAA8 is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and GE GLOBAL INS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GE GLOBAL INS 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 36158FAA8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GE GLOBAL INS has no effect on the direction of MetLife i.e., MetLife and 36158FAA8 go up and down completely randomly.
Pair Corralation between MetLife and 36158FAA8
Considering the 90-day investment horizon MetLife is expected to generate 1.66 times more return on investment than 36158FAA8. However, MetLife is 1.66 times more volatile than GE GLOBAL INS. It trades about 0.1 of its potential returns per unit of risk. GE GLOBAL INS is currently generating about 0.0 per unit of risk. If you would invest 6,296 in MetLife on September 4, 2024 and sell it today you would earn a total of 2,276 from holding MetLife or generate 36.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 71.26% |
| Values | Daily Returns |
MetLife vs. GE GLOBAL INS
Performance |
| Timeline |
| MetLife |
| GE GLOBAL INS |
MetLife and 36158FAA8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 36158FAA8
The main advantage of trading using opposite MetLife and 36158FAA8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 36158FAA8 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 36158FAA8 will offset losses from the drop in 36158FAA8's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| 36158FAA8 vs. Xponential Fitness | 36158FAA8 vs. Waters | 36158FAA8 vs. Cumberland Pharmaceuticals | 36158FAA8 vs. Viemed Healthcare |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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