Correlation Between MetLife and SHBASS
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By analyzing existing cross correlation between MetLife and SHBASS 365 10 JUN 25, you can compare the effects of market volatilities on MetLife and SHBASS 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 SHBASS. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and SHBASS.
Diversification Opportunities for MetLife and SHBASS
Modest diversification
The 3 months correlation between MetLife and SHBASS is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and SHBASS 365 10 JUN 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SHBASS 365 10 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 SHBASS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SHBASS 365 10 has no effect on the direction of MetLife i.e., MetLife and SHBASS go up and down completely randomly.
Pair Corralation between MetLife and SHBASS
Considering the 90-day investment horizon MetLife is expected to generate 0.81 times more return on investment than SHBASS. However, MetLife is 1.24 times less risky than SHBASS. It trades about 0.24 of its potential returns per unit of risk. SHBASS 365 10 JUN 25 is currently generating about -0.18 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 737.00 from holding MetLife or generate 9.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 22.73% |
| Values | Daily Returns |
MetLife vs. SHBASS 365 10 JUN 25
Performance |
| Timeline |
| MetLife |
| SHBASS 365 10 |
MetLife and SHBASS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and SHBASS
The main advantage of trading using opposite MetLife and SHBASS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, SHBASS 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 SHBASS will offset losses from the drop in SHBASS's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. CNO Financial Group |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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