Correlation Between MetLife and GBLATL
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By analyzing existing cross correlation between MetLife and GBLATL 3125 15 JUN 31, you can compare the effects of market volatilities on MetLife and GBLATL 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 GBLATL. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and GBLATL.
Diversification Opportunities for MetLife and GBLATL
Significant diversification
The 3 months correlation between MetLife and GBLATL is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and GBLATL 3125 15 JUN 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GBLATL 3125 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 GBLATL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GBLATL 3125 15 has no effect on the direction of MetLife i.e., MetLife and GBLATL go up and down completely randomly.
Pair Corralation between MetLife and GBLATL
Considering the 90-day investment horizon MetLife is expected to generate 1.02 times more return on investment than GBLATL. However, MetLife is 1.02 times more volatile than GBLATL 3125 15 JUN 31. It trades about 0.11 of its potential returns per unit of risk. GBLATL 3125 15 JUN 31 is currently generating about -0.07 per unit of risk. If you would invest 6,752 in MetLife on September 12, 2024 and sell it today you would earn a total of 1,422 from holding MetLife or generate 21.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 75.0% |
| Values | Daily Returns |
MetLife vs. GBLATL 3125 15 JUN 31
Performance |
| Timeline |
| MetLife |
| GBLATL 3125 15 |
MetLife and GBLATL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and GBLATL
The main advantage of trading using opposite MetLife and GBLATL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, GBLATL 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 GBLATL will offset losses from the drop in GBLATL's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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