Brighthouse Financial Correlations

BHFAL Stock

USD 18.64 0.10 0.54%

The current 90-days correlation between Brighthouse Financial and Brighthouse Financial is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Brighthouse Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Brighthouse Financial moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Brighthouse Financial Correlation With Market

Weak diversification

The correlation between Brighthouse Financial and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brighthouse Financial and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Brighthouse Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Brighthouse Stock please use our How to buy in Brighthouse Stock guide.

Moving against Brighthouse Stock

0.71	RCC	Small Cap Premium	Pair Corr
0.5	ARGD	Argo Group 65	Pair Corr
0.37	NC	NACCO Industries	Pair Corr
0.31	OXSQZ	Oxford Square Capital	Pair Corr
0.32	VTOL	Bristow Group	Pair Corr

Related Correlations Analysis

	BHFAP	UNMA	ARGD	ACGLO	DUKB
BHFAP		0.63	-0.58	-0.32	0.56	BHFAP
UNMA	0.63		-0.64	-0.5	0.83	UNMA
ARGD	-0.58	-0.64		0.67	-0.48	ARGD
ACGLO	-0.32	-0.5	0.67		-0.29	ACGLO
DUKB	0.56	0.83	-0.48	-0.29		DUKB
	BHFAP	UNMA	ARGD	ACGLO	DUKB

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DUKB	+ 0.83	UNMA
ACGLO	+ 0.67	ARGD
UNMA	+ 0.63	BHFAP
DUKB	+ 0.56	BHFAP

High negative correlations

ARGD	- 0.64	UNMA
ARGD	- 0.58	BHFAP
ACGLO	- 0.5	UNMA
DUKB	- 0.48	ARGD
ACGLO	- 0.32	BHFAP
DUKB	- 0.29	ACGLO

Risk-Adjusted Indicators

There is a big difference between Brighthouse Stock performing well and Brighthouse Financial 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 Brighthouse Financial'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
BHFAP	1.23	(0.20)	0.00	(0.48)	0.00	0.00	2.12	(3.46)	9.87
UNMA	0.44	(0.07)	0.00	(0.24)	0.00	0.00	1.00	(0.90)	2.54
ARGD	0.41	0.09	(0.05)	1.78	0.32	(0.47)	1.06	(0.90)	2.99
ACGLO	0.40	0.03	(0.16)	0.27	0.39	(0.46)	1.10	(0.82)	2.68
DUKB	0.33	(0.02)	(0.32)	(0.04)	0.41	(0.34)	0.58	(0.70)	2.07

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