Correlation Between MetLife and 62954HAV0
Specify exactly 2 symbols:
By analyzing existing cross correlation between MetLife and NXPI 43 18 JUN 29, you can compare the effects of market volatilities on MetLife and 62954HAV0 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 62954HAV0. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 62954HAV0.
Diversification Opportunities for MetLife and 62954HAV0
Modest diversification
The 3 months correlation between MetLife and 62954HAV0 is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and NXPI 43 18 JUN 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NXPI 43 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 62954HAV0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NXPI 43 18 has no effect on the direction of MetLife i.e., MetLife and 62954HAV0 go up and down completely randomly.
Pair Corralation between MetLife and 62954HAV0
Considering the 90-day investment horizon MetLife is expected to generate 3.06 times more return on investment than 62954HAV0. However, MetLife is 3.06 times more volatile than NXPI 43 18 JUN 29. It trades about 0.09 of its potential returns per unit of risk. NXPI 43 18 JUN 29 is currently generating about -0.16 per unit of risk. If you would invest 7,494 in MetLife on September 12, 2024 and sell it today you would earn a total of 680.00 from holding MetLife or generate 9.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 96.83% |
| Values | Daily Returns |
MetLife vs. NXPI 43 18 JUN 29
Performance |
| Timeline |
| MetLife |
| NXPI 43 18 |
MetLife and 62954HAV0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 62954HAV0
The main advantage of trading using opposite MetLife and 62954HAV0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 62954HAV0 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 62954HAV0 will offset losses from the drop in 62954HAV0's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
| 62954HAV0 vs. Stratasys | 62954HAV0 vs. WiMi Hologram Cloud | 62954HAV0 vs. Insteel Industries | 62954HAV0 vs. Chester Mining |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |