Correlation Analysis Between INGEN TECHNOLOGIES and MetLife

Analyzing existing cross correlation between INGEN TECHNOLOGIES INC and MetLife. You can compare the effects of market volatilities on INGEN TECHNOLOGIES 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 INGEN TECHNOLOGIES with a short position of MetLife. See also your portfolio center. Please also check ongoing floating volatility patterns of INGEN TECHNOLOGIES and MetLife.
Horizon     30 Days    Login   to change
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Comparative Performance

INGEN TECHNOLOGIES INC  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in INGEN TECHNOLOGIES INC are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively conflicting essential indicators, INGEN TECHNOLOGIES unveiled solid returns over the last few months and may actually be approaching a breakup point.
MetLife  
1616

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in MetLife are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, MetLife unveiled solid returns over the last few months and may actually be approaching a breakup point.

INGEN TECHNOLOGIES and MetLife Volatility Contrast

 Predicted Return Density 
    
  Returns 

INGEN TECHNOLOGIES INC  vs.  MetLife Inc

 Performance (%) 
    
  Timeline 

Pair Volatility

Given the investment horizon of 30 days, INGEN TECHNOLOGIES INC is expected to generate 37.58 times more return on investment than MetLife. However, INGEN TECHNOLOGIES is 37.58 times more volatile than MetLife. It trades about 0.16 of its potential returns per unit of risk. MetLife is currently generating about 0.25 per unit of risk. If you would invest  0.01  in INGEN TECHNOLOGIES INC on December 20, 2019 and sell it today you would earn a total of  0.01  from holding INGEN TECHNOLOGIES INC or generate 100.0% return on investment over 30 days.

Pair Corralation between INGEN TECHNOLOGIES and MetLife

0.57
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for INGEN TECHNOLOGIES and MetLife

INGEN TECHNOLOGIES INC diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding INGEN TECHNOLOGIES INC and MetLife Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on MetLife and INGEN TECHNOLOGIES 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 INGEN TECHNOLOGIES INC 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 INGEN TECHNOLOGIES i.e. INGEN TECHNOLOGIES and MetLife go up and down completely randomly.
See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.