Correlation Between MetLife and 548661EL7
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By analyzing existing cross correlation between MetLife and LOW 5 15 APR 33, you can compare the effects of market volatilities on MetLife and 548661EL7 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 548661EL7. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 548661EL7.
Diversification Opportunities for MetLife and 548661EL7
Excellent diversification
The 3 months correlation between MetLife and 548661EL7 is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and LOW 5 15 APR 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 548661EL7 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 548661EL7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 548661EL7 has no effect on the direction of MetLife i.e., MetLife and 548661EL7 go up and down completely randomly.
Pair Corralation between MetLife and 548661EL7
Considering the 90-day investment horizon MetLife is expected to generate 1.98 times more return on investment than 548661EL7. However, MetLife is 1.98 times more volatile than LOW 5 15 APR 33. It trades about 0.3 of its potential returns per unit of risk. LOW 5 15 APR 33 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 | Weak |
| Accuracy | 90.48% |
| Values | Daily Returns |
MetLife vs. LOW 5 15 APR 33
Performance |
| Timeline |
| MetLife |
| 548661EL7 |
MetLife and 548661EL7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 548661EL7
The main advantage of trading using opposite MetLife and 548661EL7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 548661EL7 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 548661EL7 will offset losses from the drop in 548661EL7's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| 548661EL7 vs. AEP TEX INC | 548661EL7 vs. US BANK NATIONAL | 548661EL7 vs. MetLife | 548661EL7 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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