Correlation Between MetLife and 44409MAB2
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By analyzing existing cross correlation between MetLife and US44409MAB28, you can compare the effects of market volatilities on MetLife and 44409MAB2 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 44409MAB2. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 44409MAB2.
Diversification Opportunities for MetLife and 44409MAB2
Very good diversification
The 3 months correlation between MetLife and 44409MAB2 is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and US44409MAB28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US44409MAB28 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 44409MAB2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US44409MAB28 has no effect on the direction of MetLife i.e., MetLife and 44409MAB2 go up and down completely randomly.
Pair Corralation between MetLife and 44409MAB2
Considering the 90-day investment horizon MetLife is expected to generate 116.68 times less return on investment than 44409MAB2. But when comparing it to its historical volatility, MetLife is 3.15 times less risky than 44409MAB2. It trades about 0.0 of its potential returns per unit of risk. US44409MAB28 is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 8,065 in US44409MAB28 on September 12, 2024 and sell it today you would earn a total of 1,140 from holding US44409MAB28 or generate 14.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
MetLife vs. US44409MAB28
Performance |
| Timeline |
| MetLife |
| US44409MAB28 |
MetLife and 44409MAB2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 44409MAB2
The main advantage of trading using opposite MetLife and 44409MAB2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 44409MAB2 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 44409MAB2 will offset losses from the drop in 44409MAB2's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
| 44409MAB2 vs. AEP TEX INC | 44409MAB2 vs. US BANK NATIONAL | 44409MAB2 vs. Alphabet Inc Class C | 44409MAB2 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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