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Correlation Between SHAGRIR GROUP and MetLife

Analyzing existing cross correlation between SHAGRIR GROUP VEHI and MetLife. You can compare the effects of market volatilities on SHAGRIR GROUP 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 SHAGRIR GROUP with a short position of MetLife. Check out your portfolio center. Please also check ongoing floating volatility patterns of SHAGRIR GROUP and MetLife.

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Diversification Opportunities for SHAGRIR GROUP and MetLife

SHAGRIR GROUP VEHI diversification synergy
0.0
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Pay attention - limited upside

The 3 months correlation between SHAGRIR and MetLife is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SHAGRIR GROUP VEHI and MetLife Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on MetLife and SHAGRIR GROUP 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 SHAGRIR GROUP VEHI 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 SHAGRIR GROUP i.e. SHAGRIR GROUP and MetLife go up and down completely randomly.

Pair Corralation between SHAGRIR GROUP and MetLife

If you would invest  4,995  in MetLife on January 24, 2020 and sell it today you would earn a total of  128.00  from holding MetLife or generate 2.56% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

SHAGRIR GROUP VEHI  vs.  MetLife Inc

 Performance (%) 
    
  Timeline 
SHAGRIR GROUP VEHI 
00

Risk-Adjusted Performance

Over the last 30 days SHAGRIR GROUP VEHI has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, SHAGRIR GROUP is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
MetLife 
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in MetLife are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively unchanging essential indicators, MetLife is not utilizing all of its potentials. The ongoing stock price uproar, may contribute to short horizon losses for the leadership.

SHAGRIR GROUP and MetLife Volatility Contrast

Check out your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.