Correlation Between PF Atlantic and MetLife
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By analyzing existing cross correlation between PF Atlantic Petroleum and MetLife, you can compare the effects of market volatilities on PF Atlantic and MetLife 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 PF Atlantic with a short position of MetLife. Check out your portfolio center. Please also check ongoing floating volatility patterns of PF Atlantic and MetLife.
Diversification Opportunities for PF Atlantic and MetLife
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ATLA-DKK and MetLife is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PF Atlantic Petroleum and MetLife in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MetLife and PF Atlantic 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 PF Atlantic Petroleum are associated (or correlated) with MetLife. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MetLife has no effect on the direction of PF Atlantic i.e., PF Atlantic and MetLife go up and down completely randomly.
Pair Corralation between PF Atlantic and MetLife
Assuming the 90 days trading horizon PF Atlantic Petroleum is expected to under-perform the MetLife. In addition to that, PF Atlantic is 4.44 times more volatile than MetLife. It trades about -0.02 of its total potential returns per unit of risk. MetLife is currently generating about -0.02 per unit of volatility. If you would invest 7,310 in MetLife on January 25, 2024 and sell it today you would lose (38.00) from holding MetLife or give up 0.52% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 90.91% |
| Values | Daily Returns |
PF Atlantic Petroleum vs. MetLife
Performance |
| Timeline |
| PF Atlantic Petroleum |
| MetLife |
PF Atlantic and MetLife Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PF Atlantic and MetLife
The main advantage of trading using opposite PF Atlantic and MetLife positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PF Atlantic position performs unexpectedly, MetLife 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 MetLife will offset losses from the drop in MetLife's long position.| PF Atlantic vs. BioPorto | PF Atlantic vs. cBrain AS | PF Atlantic vs. Orphazyme AS | PF Atlantic vs. TORM plc |
| MetLife vs. Lincoln National | MetLife vs. Aflac Incorporated | MetLife vs. Unum Group | MetLife vs. Manulife Financial Corp |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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