Correlation Between MetLife and SUMIBK
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By analyzing existing cross correlation between MetLife and SUMIBK 305 14 JAN 42, you can compare the effects of market volatilities on MetLife and SUMIBK 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 SUMIBK. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and SUMIBK.
Diversification Opportunities for MetLife and SUMIBK
Pay attention - limited upside
The 3 months correlation between MetLife and SUMIBK is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and SUMIBK 305 14 JAN 42 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUMIBK 305 14 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 SUMIBK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUMIBK 305 14 has no effect on the direction of MetLife i.e., MetLife and SUMIBK go up and down completely randomly.
Pair Corralation between MetLife and SUMIBK
Considering the 90-day investment horizon MetLife is expected to generate 0.76 times more return on investment than SUMIBK. However, MetLife is 1.31 times less risky than SUMIBK. It trades about 0.1 of its potential returns per unit of risk. SUMIBK 305 14 JAN 42 is currently generating about 0.07 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 | Flat |
| Strength | Insignificant |
| Accuracy | 35.63% |
| Values | Daily Returns |
MetLife vs. SUMIBK 305 14 JAN 42
Performance |
| Timeline |
| MetLife |
| SUMIBK 305 14 |
MetLife and SUMIBK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and SUMIBK
The main advantage of trading using opposite MetLife and SUMIBK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, SUMIBK 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 SUMIBK will offset losses from the drop in SUMIBK's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| SUMIBK vs. Bill Com Holdings | SUMIBK vs. Harmony Gold Mining | SUMIBK vs. Uber Technologies | SUMIBK vs. Mills Music Trust |
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 CEOs Directory module to screen CEOs from public companies around the world.
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