Correlation Analysis Between AFLAC Incorporated and Brighthouse Financial

This module allows you to analyze existing cross correlation between AFLAC Incorporated and Brighthouse Financial. You can compare the effects of market volatilities on AFLAC Incorporated and Brighthouse Financial 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 AFLAC Incorporated with a short position of Brighthouse Financial. See also your portfolio center. Please also check ongoing floating volatility patterns of AFLAC Incorporated and Brighthouse Financial.
Horizon     30 Days    Login   to change
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Comparative Performance

AFLAC Incorporated  
00

Risk-Adjusted Performance

Over the last 30 days AFLAC Incorporated has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, AFLAC Incorporated is not utilizing all of its potentials. The ongoing stock price chaos, may contribute to medium term losses for the stakeholders.
Brighthouse Financial  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Brighthouse Financial are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. In spite of rather unsteady fundamental drivers, Brighthouse Financial may actually be approaching a critical reversion point that can send shares even higher in October 2019.

AFLAC Incorporated and Brighthouse Financial Volatility Contrast

 Predicted Return Density 
      Returns 

AFLAC Incorporated  vs.  Brighthouse Financial Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, AFLAC Incorporated is expected to under-perform the Brighthouse Financial. But the stock apears to be less risky and, when comparing its historical volatility, AFLAC Incorporated is 2.28 times less risky than Brighthouse Financial. The stock trades about -0.05 of its potential returns per unit of risk. The Brighthouse Financial is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  3,765  in Brighthouse Financial on August 16, 2019 and sell it today you would earn a total of  298.00  from holding Brighthouse Financial or generate 7.92% return on investment over 30 days.

Pair Corralation between AFLAC Incorporated and Brighthouse Financial

0.85
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for AFLAC Incorporated and Brighthouse Financial

AFLAC Incorporated diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding AFLAC Incorporated and Brighthouse Financial Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Brighthouse Financial and AFLAC Incorporated 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 AFLAC Incorporated are associated (or correlated) with Brighthouse Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Brighthouse Financial has no effect on the direction of AFLAC Incorporated i.e. AFLAC Incorporated and Brighthouse Financial go up and down completely randomly.
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