Sun Life Correlations

SLF Stock

CAD 87.44 1.55 1.74%

The current 90-days correlation between Sun Life Financial and Intact Financial is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sun Life moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sun Life Financial moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sun Life Correlation With Market

Poor diversification

The correlation between Sun Life Financial and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Sun Life could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sun Life 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 Sun Life - 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 Sun Life Financial to buy it.

Moving together with Sun Stock

0.85	BCE-PT	Bce Inc Pref	Pair Corr
0.61	HSTR	Heliostar Metals	Pair Corr

Moving against Sun Stock

0.53	ORC-A	Orca Energy Group	Pair Corr
0.49	RCI-A	Rogers Communications	Pair Corr
0.43	RVX	Resverlogix Corp	Pair Corr
0.36	DII-A	Dorel Industries ClA	Pair Corr

Related Correlations Analysis

	IFC	IGM	X	PWF-PZ	DFY	GLXY	ONEX	ELF	GWO
IFC		-0.62	0.52	-0.23	0.56	-0.17	-0.34	-0.7	0.27	IFC
IGM	-0.62		-0.36	-0.08	0.13	0.15	0.39	0.66	0.45	IGM
X	0.52	-0.36		-0.32	0.54	0.38	0.23	-0.25	0.41	X
PWF-PZ	-0.23	-0.08	-0.32		-0.41	0.12	-0.02	0.25	-0.5	PWF-PZ
DFY	0.56	0.13	0.54	-0.41		0.21	0.29	-0.14	0.86	DFY
GLXY	-0.17	0.15	0.38	0.12	0.21		0.4	0.44	0.14	GLXY
ONEX	-0.34	0.39	0.23	-0.02	0.29	0.4		0.34	0.36	ONEX
ELF	-0.7	0.66	-0.25	0.25	-0.14	0.44	0.34		-0.03	ELF
GWO	0.27	0.45	0.41	-0.5	0.86	0.14	0.36	-0.03		GWO
	IFC	IGM	X	PWF-PZ	DFY	GLXY	ONEX	ELF	GWO

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

GWO	+ 0.86	DFY
ELF	+ 0.66	IGM
DFY	+ 0.56	IFC
DFY	+ 0.54	X
X	+ 0.52	IFC
GWO	+ 0.45	IGM

High negative correlations

ELF	- 0.7	IFC
IGM	- 0.62	IFC
GWO	- 0.5	PWF-PZ
DFY	- 0.41	PWF-PZ
X	- 0.36	IGM
ONEX	- 0.34	IFC

Risk-Adjusted Indicators

There is a big difference between Sun Stock performing well and Sun Life 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 Sun Life'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
IFC	0.95	0.00	0.00	0.10	0.00	0.00	2.25	(1.77)	7.09
IGM	0.98	0.28	0.19	0.67	0.84	(1.09)	2.58	(2.12)	6.84
X	1.03	(0.16)	0.00	(0.60)	0.00	0.00	1.93	(2.10)	12.71
PWF-PZ	0.37	(0.02)	(0.17)	(0.05)	0.47	(0.48)	0.95	(0.83)	2.94
DFY	1.08	(0.03)	0.00	0.20	0.00	0.00	2.63	(2.38)	8.82
GLXY	4.75	(0.29)	0.00	0.25	0.00	0.00	10.71	(10.29)	30.84
ONEX	1.04	(0.20)	0.00	(0.48)	0.00	0.00	1.55	(2.50)	9.47
ELF	0.80	0.00	(0.06)	0.08	0.96	(0.86)	1.78	(1.50)	6.92
GWO	0.69	0.00	(0.06)	0.09	1.00	(0.69)	1.46	(1.61)	4.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sun Life 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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