Correlation Between MetLife and 38141GYM0
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By analyzing existing cross correlation between MetLife and GS 1948 21 OCT 27, you can compare the effects of market volatilities on MetLife and 38141GYM0 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 38141GYM0. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 38141GYM0.
Diversification Opportunities for MetLife and 38141GYM0
Excellent diversification
The 3 months correlation between MetLife and 38141GYM0 is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and GS 1948 21 OCT 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GS 1948 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 38141GYM0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GS 1948 21 has no effect on the direction of MetLife i.e., MetLife and 38141GYM0 go up and down completely randomly.
Pair Corralation between MetLife and 38141GYM0
Considering the 90-day investment horizon MetLife is expected to generate 2.4 times more return on investment than 38141GYM0. However, MetLife is 2.4 times more volatile than GS 1948 21 OCT 27. It trades about 0.3 of its potential returns per unit of risk. GS 1948 21 OCT 27 is currently generating about -0.2 per unit of risk. If you would invest 7,801 in MetLife on September 4, 2024 and sell it today you would earn a total of 887.00 from holding MetLife or generate 11.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
MetLife vs. GS 1948 21 OCT 27
Performance |
| Timeline |
| MetLife |
| GS 1948 21 |
MetLife and 38141GYM0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 38141GYM0
The main advantage of trading using opposite MetLife and 38141GYM0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 38141GYM0 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 38141GYM0 will offset losses from the drop in 38141GYM0's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| 38141GYM0 vs. AEP TEX INC | 38141GYM0 vs. US BANK NATIONAL | 38141GYM0 vs. MetLife | 38141GYM0 vs. Brera Holdings PLC |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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