Correlation Between MetLife and 639057AF5
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By analyzing existing cross correlation between MetLife and NWG 5516 30 SEP 28, you can compare the effects of market volatilities on MetLife and 639057AF5 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 639057AF5. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 639057AF5.
Diversification Opportunities for MetLife and 639057AF5
Excellent diversification
The 3 months correlation between MetLife and 639057AF5 is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and NWG 5516 30 SEP 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NWG 5516 30 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 639057AF5. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NWG 5516 30 has no effect on the direction of MetLife i.e., MetLife and 639057AF5 go up and down completely randomly.
Pair Corralation between MetLife and 639057AF5
Considering the 90-day investment horizon MetLife is expected to generate 1.85 times more return on investment than 639057AF5. However, MetLife is 1.85 times more volatile than NWG 5516 30 SEP 28. It trades about 0.25 of its potential returns per unit of risk. NWG 5516 30 SEP 28 is currently generating about -0.23 per unit of risk. If you would invest 7,801 in MetLife on September 5, 2024 and sell it today you would earn a total of 771.00 from holding MetLife or generate 9.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 86.36% |
| Values | Daily Returns |
MetLife vs. NWG 5516 30 SEP 28
Performance |
| Timeline |
| MetLife |
| NWG 5516 30 |
MetLife and 639057AF5 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 639057AF5
The main advantage of trading using opposite MetLife and 639057AF5 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 639057AF5 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 639057AF5 will offset losses from the drop in 639057AF5's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. CNO Financial Group |
| 639057AF5 vs. AEP TEX INC | 639057AF5 vs. US BANK NATIONAL | 639057AF5 vs. MetLife | 639057AF5 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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