Correlation Between Kantone Holdings and MetLife
Can any of the company-specific risk be diversified away by investing in both Kantone Holdings 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 Kantone Holdings and MetLife into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kantone Holdings Limited and MetLife, you can compare the effects of market volatilities on Kantone Holdings 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 Kantone Holdings with a short position of MetLife. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kantone Holdings and MetLife.
Diversification Opportunities for Kantone Holdings and MetLife
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kantone and MetLife is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kantone Holdings Limited and MetLife in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MetLife and Kantone Holdings 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 Kantone Holdings Limited 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 Kantone Holdings i.e., Kantone Holdings and MetLife go up and down completely randomly.
Pair Corralation between Kantone Holdings and MetLife
If you would invest 5.00 in Kantone Holdings Limited on January 20, 2024 and sell it today you would earn a total of 0.00 from holding Kantone Holdings Limited or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kantone Holdings Limited vs. MetLife
Performance |
| Timeline |
| Kantone Holdings |
| MetLife |
Kantone Holdings and MetLife Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kantone Holdings and MetLife
The main advantage of trading using opposite Kantone Holdings and MetLife positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kantone Holdings 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.| Kantone Holdings vs. ASGN Inc | Kantone Holdings vs. ExlService Holdings | Kantone Holdings vs. CACI International | Kantone Holdings vs. CLARIVATE 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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |