Correlation Between MetLife and 91159HJK7
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By analyzing existing cross correlation between MetLife and USB 4653 01 FEB 29, you can compare the effects of market volatilities on MetLife and 91159HJK7 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 91159HJK7. Check out your portfolio center. Please also check ongoing floating volatility patterns of MetLife and 91159HJK7.
Diversification Opportunities for MetLife and 91159HJK7
Excellent diversification
The 3 months correlation between MetLife and 91159HJK7 is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and USB 4653 01 FEB 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on USB 4653 01 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 91159HJK7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of USB 4653 01 has no effect on the direction of MetLife i.e., MetLife and 91159HJK7 go up and down completely randomly.
Pair Corralation between MetLife and 91159HJK7
Considering the 90-day investment horizon MetLife is expected to generate 4.07 times more return on investment than 91159HJK7. However, MetLife is 4.07 times more volatile than USB 4653 01 FEB 29. It trades about 0.1 of its potential returns per unit of risk. USB 4653 01 FEB 29 is currently generating about 0.01 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 2,392 from holding MetLife or generate 37.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.79% |
| Values | Daily Returns |
MetLife vs. USB 4653 01 FEB 29
Performance |
| Timeline |
| MetLife |
| USB 4653 01 |
MetLife and 91159HJK7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MetLife and 91159HJK7
The main advantage of trading using opposite MetLife and 91159HJK7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MetLife position performs unexpectedly, 91159HJK7 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 91159HJK7 will offset losses from the drop in 91159HJK7's long position.| MetLife vs. Aflac Incorporated | MetLife vs. Manulife Financial Corp | MetLife vs. Jackson Financial | MetLife vs. Globe Life |
| 91159HJK7 vs. AEP TEX INC | 91159HJK7 vs. US BANK NATIONAL | 91159HJK7 vs. MetLife | 91159HJK7 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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