Correlation Between MetLife and 86787GAJ1
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By analyzing existing cross correlation between MetLife and SUNTRUST BK ATLANTA, you can compare the effects of market volatilities on MetLife and 86787GAJ1 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 86787GAJ1. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 86787GAJ1.
Diversification Opportunities for MetLife and 86787GAJ1
Good diversification
The 3 months correlation between MetLife and 86787GAJ1 is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and SUNTRUST BK ATLANTA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUNTRUST BK ATLANTA 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 86787GAJ1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUNTRUST BK ATLANTA has no effect on the direction of MetLife i.e., MetLife and 86787GAJ1 go up and down completely randomly.
Pair Corralation between MetLife and 86787GAJ1
Considering the 90-day investment horizon MetLife is expected to generate 14.05 times more return on investment than 86787GAJ1. However, MetLife is 14.05 times more volatile than SUNTRUST BK ATLANTA. It trades about 0.08 of its potential returns per unit of risk. SUNTRUST BK ATLANTA is currently generating about -0.01 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 539.00 from holding MetLife or generate 7.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 93.75% |
| Values | Daily Returns |
MetLife vs. SUNTRUST BK ATLANTA
Performance |
| Timeline |
| MetLife |
| SUNTRUST BK ATLANTA |
MetLife and 86787GAJ1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 86787GAJ1
The main advantage of trading using opposite MetLife and 86787GAJ1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 86787GAJ1 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 86787GAJ1 will offset losses from the drop in 86787GAJ1's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
| 86787GAJ1 vs. Ryman Hospitality Properties | 86787GAJ1 vs. Glacier Bancorp | 86787GAJ1 vs. Dine Brands Global | 86787GAJ1 vs. Western Union Co |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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