Correlation Between Sydinvest Fjernsten and MetLife
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By analyzing existing cross correlation between Sydinvest Fjernsten Akkumulerende and MetLife, you can compare the effects of market volatilities on Sydinvest Fjernsten 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 Sydinvest Fjernsten with a short position of MetLife. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sydinvest Fjernsten and MetLife.
Diversification Opportunities for Sydinvest Fjernsten and MetLife
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sydinvest and MetLife is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Sydinvest Fjernsten Akkumulere and MetLife in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MetLife and Sydinvest Fjernsten 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 Sydinvest Fjernsten Akkumulerende 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 Sydinvest Fjernsten i.e., Sydinvest Fjernsten and MetLife go up and down completely randomly.
Pair Corralation between Sydinvest Fjernsten and MetLife
Assuming the 90 days trading horizon Sydinvest Fjernsten Akkumulerende is expected to generate 0.93 times more return on investment than MetLife. However, Sydinvest Fjernsten Akkumulerende is 1.07 times less risky than MetLife. It trades about 0.09 of its potential returns per unit of risk. MetLife is currently generating about -0.02 per unit of risk. If you would invest 29,422 in Sydinvest Fjernsten Akkumulerende on January 26, 2024 and sell it today you would earn a total of 408.00 from holding Sydinvest Fjernsten Akkumulerende or generate 1.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 90.48% |
| Values | Daily Returns |
Sydinvest Fjernsten Akkumulere vs. MetLife
Performance |
| Timeline |
| Sydinvest Fjernsten |
| MetLife |
Sydinvest Fjernsten and MetLife Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sydinvest Fjernsten and MetLife
The main advantage of trading using opposite Sydinvest Fjernsten and MetLife positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sydinvest Fjernsten 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.| Sydinvest Fjernsten vs. Novo Nordisk AS | Sydinvest Fjernsten vs. Nordea Bank Abp | Sydinvest Fjernsten vs. DSV Panalpina AS | Sydinvest Fjernsten vs. AP Mller |
| 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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