Correlation Between MetLife and GLENLN
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By analyzing existing cross correlation between MetLife and GLENLN 1625 27 APR 26, you can compare the effects of market volatilities on MetLife and GLENLN 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 GLENLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and GLENLN.
Diversification Opportunities for MetLife and GLENLN
Average diversification
The 3 months correlation between MetLife and GLENLN is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and GLENLN 1625 27 APR 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GLENLN 1625 27 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 GLENLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GLENLN 1625 27 has no effect on the direction of MetLife i.e., MetLife and GLENLN go up and down completely randomly.
Pair Corralation between MetLife and GLENLN
Considering the 90-day investment horizon MetLife is expected to generate 16.15 times more return on investment than GLENLN. However, MetLife is 16.15 times more volatile than GLENLN 1625 27 APR 26. It trades about 0.08 of its potential returns per unit of risk. GLENLN 1625 27 APR 26 is currently generating about 0.04 per unit of risk. If you would invest 7,494 in MetLife on September 12, 2024 and sell it today you would earn a total of 539.00 from holding MetLife or generate 7.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 75.0% |
| Values | Daily Returns |
MetLife vs. GLENLN 1625 27 APR 26
Performance |
| Timeline |
| MetLife |
| GLENLN 1625 27 |
MetLife and GLENLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and GLENLN
The main advantage of trading using opposite MetLife and GLENLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, GLENLN 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 GLENLN will offset losses from the drop in GLENLN's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
| GLENLN vs. Paiute Oil Mining | GLENLN vs. Sun Country Airlines | GLENLN vs. Mangazeya Mining | GLENLN vs. Chester Mining |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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