Correlation Between Sparinvest Nye and MetLife
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sparinvest Nye Obligationsmarkeder and MetLife, you can compare the effects of market volatilities on Sparinvest Nye 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 Nye with a short position of MetLife. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sparinvest Nye and MetLife.
Diversification Opportunities for Sparinvest Nye and MetLife
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sparinvest and MetLife is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Sparinvest Nye Obligationsmark and MetLife in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MetLife and Sparinvest Nye 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 Nye Obligationsmarkeder 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 Nye i.e., Sparinvest Nye and MetLife go up and down completely randomly.
Pair Corralation between Sparinvest Nye and MetLife
Assuming the 90 days trading horizon Sparinvest Nye is expected to generate 3.96 times less return on investment than MetLife. But when comparing it to its historical volatility, Sparinvest Nye Obligationsmarkeder is 2.02 times less risky than MetLife. It trades about 0.06 of its potential returns per unit of risk. MetLife is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 6,933 in MetLife on January 24, 2024 and sell it today you would earn a total of 263.00 from holding MetLife or generate 3.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Sparinvest Nye Obligationsmark vs. MetLife
Performance |
| Timeline |
| Sparinvest Nye Oblig |
| MetLife |
Sparinvest Nye and MetLife Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sparinvest Nye and MetLife
The main advantage of trading using opposite Sparinvest Nye and MetLife positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sparinvest Nye 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 Nye vs. Jyske Invest Nye | Sparinvest Nye vs. Jyske Invest Nye | Sparinvest Nye vs. Jyske Invest Hjt | Sparinvest Nye vs. Jyske Invest Lange |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| AI Investment Finder Use AI to screen and filter profitable investment opportunities | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |