Correlation Between MetLife and MQGAU
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By analyzing existing cross correlation between MetLife and MQGAU 6798 18 JAN 33, you can compare the effects of market volatilities on MetLife and MQGAU 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 MQGAU. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and MQGAU.
Diversification Opportunities for MetLife and MQGAU
Modest diversification
The 3 months correlation between MetLife and MQGAU is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and MQGAU 6798 18 JAN 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MQGAU 6798 18 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 MQGAU. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MQGAU 6798 18 has no effect on the direction of MetLife i.e., MetLife and MQGAU go up and down completely randomly.
Pair Corralation between MetLife and MQGAU
Considering the 90-day investment horizon MetLife is expected to generate 0.9 times more return on investment than MQGAU. However, MetLife is 1.12 times less risky than MQGAU. It trades about 0.08 of its potential returns per unit of risk. MQGAU 6798 18 JAN 33 is currently generating about 0.02 per unit of risk. If you would invest 5,809 in MetLife on September 12, 2024 and sell it today you would earn a total of 2,365 from holding MetLife or generate 40.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 37.22% |
| Values | Daily Returns |
MetLife vs. MQGAU 6798 18 JAN 33
Performance |
| Timeline |
| MetLife |
| MQGAU 6798 18 |
MetLife and MQGAU Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and MQGAU
The main advantage of trading using opposite MetLife and MQGAU positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, MQGAU 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 MQGAU will offset losses from the drop in MQGAU'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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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