Correlation Between MetLife and 87612EBM7
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By analyzing existing cross correlation between MetLife and TGT 195 15 JAN 27, you can compare the effects of market volatilities on MetLife and 87612EBM7 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 87612EBM7. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 87612EBM7.
Diversification Opportunities for MetLife and 87612EBM7
Excellent diversification
The 3 months correlation between MetLife and 87612EBM7 is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and TGT 195 15 JAN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TGT 195 15 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 87612EBM7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TGT 195 15 has no effect on the direction of MetLife i.e., MetLife and 87612EBM7 go up and down completely randomly.
Pair Corralation between MetLife and 87612EBM7
Considering the 90-day investment horizon MetLife is expected to generate 1.81 times more return on investment than 87612EBM7. However, MetLife is 1.81 times more volatile than TGT 195 15 JAN 27. It trades about 0.13 of its potential returns per unit of risk. TGT 195 15 JAN 27 is currently generating about -0.18 per unit of risk. If you would invest 8,069 in MetLife on September 3, 2024 and sell it today you would earn a total of 754.00 from holding MetLife or generate 9.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
MetLife vs. TGT 195 15 JAN 27
Performance |
| Timeline |
| MetLife |
| TGT 195 15 |
MetLife and 87612EBM7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 87612EBM7
The main advantage of trading using opposite MetLife and 87612EBM7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 87612EBM7 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 87612EBM7 will offset losses from the drop in 87612EBM7's long position.| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
| 87612EBM7 vs. AEP TEX INC | 87612EBM7 vs. US BANK NATIONAL | 87612EBM7 vs. MetLife | 87612EBM7 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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