MET vs RAY: Correlation
Measured on weekly returns over the past three years, MetLife (MET) and Raytech Holding Limited (RAY) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MET and RAY?
Over the past 3 years, MET and RAY moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.19) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -613.4 %².
Within MET's tracked universe of 37 assets, RAY comes in at #31 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MET ahead by 106.1 points (+22.1% versus -84.0%). Note the risk asymmetry: RAY runs 6.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
MET vs RAY: side by side
| MET (MetLife) | RAY (Raytech Holding Limited) | |
|---|---|---|
| 1-year return | +22.1% | -84.0% |
| 5-year return | +80.8% | n/a |
| Volatility (ann.) | 23.3% | 146.1% |
| Beta vs S&P 500 | 0.89 | 0.37 |
| Max drawdown (3Y) | -22.0% | -97.7% |
| Market cap | $61.2B | – |
| P/E (trailing) | 18.5 | 3.0 |
| Dividend yield | 2.38% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | MET | RAY |
|---|---|---|
| 2022 | +19.2% | – |
| 2023 | -5.5% | – |
| 2024 | +27.7% | – |
| 2025 | -0.8% | -90.5% |
| 2026 | +24.5% | +36.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MET and RAY good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between MET and RAY?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.19 over the last year and n/a over 5 years.
Is RAY a good diversifier for MET?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/met-vs-ray.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/met-vs-ray/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MET correlations · RAY correlations
