Correlation Between Sparinvest Mellemlange and MetLife
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By analyzing existing cross correlation between Sparinvest Mellemlange and MetLife, you can compare the effects of market volatilities on Sparinvest Mellemlange 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 Sparinvest Mellemlange with a short position of MetLife. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinvest Mellemlange and MetLife.
Diversification Opportunities for Sparinvest Mellemlange and MetLife
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sparinvest and MetLife is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sparinvest Mellemlange and MetLife in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MetLife and Sparinvest Mellemlange 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 Sparinvest Mellemlange 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 Sparinvest Mellemlange i.e., Sparinvest Mellemlange and MetLife go up and down completely randomly.
Pair Corralation between Sparinvest Mellemlange and MetLife
If you would invest 6,333 in MetLife on January 25, 2024 and sell it today you would earn a total of 920.00 from holding MetLife or generate 14.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Sparinvest Mellemlange vs. MetLife
Performance |
| Timeline |
| Sparinvest Mellemlange |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
| MetLife |
Sparinvest Mellemlange and MetLife Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinvest Mellemlange and MetLife
The main advantage of trading using opposite Sparinvest Mellemlange and MetLife positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinvest Mellemlange 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.| Sparinvest Mellemlange vs. Sparinvest Lange | Sparinvest Mellemlange vs. Sparinvest Value Emerging | Sparinvest Mellemlange vs. Sparinvest Europa Growth | Sparinvest Mellemlange vs. Sparinvest INDEX Europa |
| 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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