Correlation Between MetLife and JABHOL
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By analyzing existing cross correlation between MetLife and JABHOL 22 23 NOV 30, you can compare the effects of market volatilities on MetLife and JABHOL 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 JABHOL. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and JABHOL.
Diversification Opportunities for MetLife and JABHOL
Poor diversification
The 3 months correlation between MetLife and JABHOL is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and JABHOL 22 23 NOV 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JABHOL 22 23 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 JABHOL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JABHOL 22 23 has no effect on the direction of MetLife i.e., MetLife and JABHOL go up and down completely randomly.
Pair Corralation between MetLife and JABHOL
Considering the 90-day investment horizon MetLife is expected to generate 0.34 times more return on investment than JABHOL. However, MetLife is 2.98 times less risky than JABHOL. It trades about 0.0 of its potential returns per unit of risk. JABHOL 22 23 NOV 30 is currently generating about -0.32 per unit of risk. If you would invest 8,177 in MetLife on September 12, 2024 and sell it today you would lose (3.00) from holding MetLife or give up 0.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 27.27% |
| Values | Daily Returns |
MetLife vs. JABHOL 22 23 NOV 30
Performance |
| Timeline |
| MetLife |
| JABHOL 22 23 |
MetLife and JABHOL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and JABHOL
The main advantage of trading using opposite MetLife and JABHOL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, JABHOL 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 JABHOL will offset losses from the drop in JABHOL's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
| JABHOL vs. Parker Hannifin | JABHOL vs. Brenmiller Energy Ltd | JABHOL vs. Hurco Companies | JABHOL vs. CECO Environmental 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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