Correlation Between MetLife and NATIONAL
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By analyzing existing cross correlation between MetLife and NATIONAL RURAL UTILS, you can compare the effects of market volatilities on MetLife and NATIONAL 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 NATIONAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and NATIONAL.
Diversification Opportunities for MetLife and NATIONAL
Pay attention - limited upside
The 3 months correlation between MetLife and NATIONAL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and NATIONAL RURAL UTILS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NATIONAL RURAL UTILS 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 NATIONAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NATIONAL RURAL UTILS has no effect on the direction of MetLife i.e., MetLife and NATIONAL go up and down completely randomly.
Pair Corralation between MetLife and NATIONAL
If you would invest 5,149 in MetLife on September 4, 2024 and sell it today you would earn a total of 3,539 from holding MetLife or generate 68.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.27% |
| Values | Daily Returns |
MetLife vs. NATIONAL RURAL UTILS
Performance |
| Timeline |
| MetLife |
| NATIONAL RURAL UTILS |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
MetLife and NATIONAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and NATIONAL
The main advantage of trading using opposite MetLife and NATIONAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, NATIONAL 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 NATIONAL will offset losses from the drop in NATIONAL's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| NATIONAL vs. SNDL Inc | NATIONAL vs. Asure Software | NATIONAL vs. Analog Devices | NATIONAL vs. Arrow Electronics |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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