Correlation Between Mfs Blended and MetLife
Can any of the company-specific risk be diversified away by investing in both Mfs Blended and MetLife at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Mfs Blended and MetLife into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mfs Blended Research and MetLife, you can compare the effects of market volatilities on Mfs Blended 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 Mfs Blended with a short position of MetLife. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mfs Blended and MetLife.
Diversification Opportunities for Mfs Blended and MetLife
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mfs and MetLife is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Blended Research and MetLife in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MetLife and Mfs Blended 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 Mfs Blended Research 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 Mfs Blended i.e., Mfs Blended and MetLife go up and down completely randomly.
Pair Corralation between Mfs Blended and MetLife
If you would invest 5,038 in MetLife on January 25, 2024 and sell it today you would earn a total of 2,215 from holding MetLife or generate 43.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.44% |
| Values | Daily Returns |
Mfs Blended Research vs. MetLife
Performance |
| Timeline |
| Mfs Blended Research |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| MetLife |
Mfs Blended and MetLife Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mfs Blended and MetLife
The main advantage of trading using opposite Mfs Blended and MetLife positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mfs Blended 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.| Mfs Blended vs. Mirova Global Green | Mfs Blended vs. Versatile Bond Portfolio | Mfs Blended vs. T Rowe Price | Mfs Blended vs. T Rowe Price |
| 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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