Correlation Between MetLife and 74340XBU4
Specify exactly 2 symbols:
By analyzing existing cross correlation between MetLife and PLD 325 30 JUN 26, you can compare the effects of market volatilities on MetLife and 74340XBU4 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 74340XBU4. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 74340XBU4.
Diversification Opportunities for MetLife and 74340XBU4
Very good diversification
The 3 months correlation between MetLife and 74340XBU4 is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and PLD 325 30 JUN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PLD 325 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 74340XBU4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PLD 325 30 has no effect on the direction of MetLife i.e., MetLife and 74340XBU4 go up and down completely randomly.
Pair Corralation between MetLife and 74340XBU4
Considering the 90-day investment horizon MetLife is expected to generate 6.13 times more return on investment than 74340XBU4. However, MetLife is 6.13 times more volatile than PLD 325 30 JUN 26. It trades about 0.1 of its potential returns per unit of risk. PLD 325 30 JUN 26 is currently generating about 0.06 per unit of risk. If you would invest 6,296 in MetLife on September 4, 2024 and sell it today you would earn a total of 2,276 from holding MetLife or generate 36.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 87.45% |
| Values | Daily Returns |
MetLife vs. PLD 325 30 JUN 26
Performance |
| Timeline |
| MetLife |
| PLD 325 30 |
MetLife and 74340XBU4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 74340XBU4
The main advantage of trading using opposite MetLife and 74340XBU4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 74340XBU4 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 74340XBU4 will offset losses from the drop in 74340XBU4's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| 74340XBU4 vs. RCI Hospitality Holdings | 74340XBU4 vs. First Watch Restaurant | 74340XBU4 vs. Zhihu Inc ADR | 74340XBU4 vs. The Cheesecake Factory |
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 Stocks Directory module to find actively traded stocks across global markets.
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |