MetLife Correlations

METB34 Stock

BRL 495.39 3.11 0.62%

The current 90-days correlation between MetLife and Prudential Financial is 0.08 (i.e., Significant diversification). The correlation of MetLife is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

MetLife Correlation With Market

Average diversification

The correlation between MetLife and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MetLife and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MetLife could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MetLife when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MetLife - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MetLife to buy it.

Moving together with MetLife Stock

0.64	P1UK34	Prudential plc	Pair Corr
0.81	P1DT34	Prudential Financial	Pair Corr
0.72	SNEC34	Sony Group Split	Pair Corr
0.84	TSMC34	Taiwan Semiconductor	Pair Corr
0.81	AAPL34	Apple Inc	Pair Corr
0.64	EXXO34	Exxon Mobil	Pair Corr
0.87	HONB34	Honeywell International	Pair Corr
0.75	CTKA3	Karsten SA	Pair Corr
0.65	F1RA34	F1RA34	Pair Corr
0.79	A1VB34	AvalonBay Communities	Pair Corr
0.88	SSFO34	salesforce inc	Pair Corr
0.86	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.87	AIRB34	Airbnb Inc	Pair Corr
0.79	PSSA3	Porto Seguro SA	Pair Corr
0.9	ACNB34	Accenture plc	Pair Corr
0.85	VISA34	Visa Inc	Pair Corr
0.87	A1TM34	A1TM34	Pair Corr
0.85	CAON34	Capital One Financial	Pair Corr
0.88	JBSS3	JBS SA	Pair Corr
0.83	P2LT34	Palantir Technologies	Pair Corr
0.89	MSBR34	Morgan Stanley	Pair Corr
0.8	AMZO34	Amazon Inc	Pair Corr
0.63	A1VY34	A1VY34	Pair Corr
0.8	MRFG3	Marfrig Global Foods	Pair Corr
0.66	B1NT34	BIONTECH SE DRN	Pair Corr
0.76	MSFT34	Microsoft	Pair Corr
0.76	GGBR3	Gerdau SA	Pair Corr
0.83	COWC34	Costco Wholesale	Pair Corr
0.86	WALM34	Walmart	Pair Corr
0.7	TSLA34	Tesla Inc	Pair Corr

Moving against MetLife Stock

0.76	ITUB3	Ita Unibanco Holding	Pair Corr
0.74	ITUB4	Ita Unibanco Holding	Pair Corr
0.66	HOND34	Honda Motor	Pair Corr
0.35	BABA34	Alibaba Group Holding	Pair Corr

Related Correlations Analysis

	METB34	P1DT34	WALM34	PSSA3	VISA34	A1VB34	WEGE3	COWC34	HONB34
METB34		0.81	0.86	0.79	0.85	0.79	0.24	0.83	0.87	METB34
P1DT34	0.81		0.94	0.71	0.94	0.87	0.11	0.93	0.91	P1DT34
WALM34	0.86	0.94		0.68	0.95	0.89	0.23	0.98	0.94	WALM34
PSSA3	0.79	0.71	0.68		0.68	0.68	0.23	0.64	0.69	PSSA3
VISA34	0.85	0.94	0.95	0.68		0.89	0.13	0.95	0.96	VISA34
A1VB34	0.79	0.87	0.89	0.68	0.89		0.08	0.89	0.88	A1VB34
WEGE3	0.24	0.11	0.23	0.23	0.13	0.08		0.19	0.14	WEGE3
COWC34	0.83	0.93	0.98	0.64	0.95	0.89	0.19		0.94	COWC34
HONB34	0.87	0.91	0.94	0.69	0.96	0.88	0.14	0.94		HONB34
	METB34	P1DT34	WALM34	PSSA3	VISA34	A1VB34	WEGE3	COWC34	HONB34

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Risk-Adjusted Indicators

There is a big difference between MetLife Stock performing well and MetLife Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze MetLife's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
METB34	0.76	0.24	0.10	1.08	0.49	(2.54)	3.72	(1.01)	11.29
P1DT34	0.76	0.27	0.00	(4.46)	0.00	0.00	3.74	(0.49)	12.92
WALM34	1.24	0.45	0.28	(1.27)	1.08	(1.42)	3.26	(1.92)	7.41
PSSA3	0.90	0.08	0.04	(6.23)	0.93	(1.07)	2.20	(1.57)	6.00
VISA34	1.31	0.42	0.21	(1.50)	1.35	(1.50)	2.64	(1.87)	9.26
A1VB34	1.18	0.14	0.05	(0.32)	1.43	(1.63)	3.34	(3.16)	10.06
WEGE3	1.24	0.04	0.00	(0.32)	1.62	(1.29)	2.73	(2.34)	8.61
COWC34	1.35	0.28	0.15	(4.89)	1.45	(1.51)	2.87	(2.64)	8.27
HONB34	1.08	0.38	0.14	(0.65)	0.70	(2.43)	4.67	(2.11)	12.13

Be your own money manager

Our tools can tell you how much better you can do entering a position in MetLife without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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