Suncor Energy Correlations

SU Stock

USD 41.13 0.30 0.73%

The current 90-days correlation between Suncor Energy and Merck Company is -0.08 (i.e., Good diversification). The correlation of Suncor Energy 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Suncor Energy Correlation With Market

Modest diversification

The correlation between Suncor Energy and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Suncor Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Suncor Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more information on how to buy Suncor Stock please use our How to Invest in Suncor Energy guide.

Moving together with Suncor Stock

0.63	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.83	IMO	Imperial Oil	Pair Corr
0.67	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.62	HP	Helmerich and Payne	Pair Corr
0.78	PR	Permian Resources Aggressive Push	Pair Corr
0.93	SM	SM Energy	Pair Corr

Related Correlations Analysis

	CVX	SCRYX	FRHC	GFL	RGAGX	SVII	GFI	KNF	MRK	WES
CVX		0.79	0.82	0.7	0.85	0.54	0.22	0.71	-0.86	-0.02	CVX
SCRYX	0.79		0.71	0.6	0.89	0.61	0.16	0.73	-0.66	-0.15	SCRYX
FRHC	0.82	0.71		0.59	0.84	0.65	0.3	0.85	-0.94	-0.16	FRHC
GFL	0.7	0.6	0.59		0.51	0.4	-0.12	0.31	-0.64	-0.37	GFL
RGAGX	0.85	0.89	0.84	0.51		0.65	0.42	0.86	-0.82	-0.05	RGAGX
SVII	0.54	0.61	0.65	0.4	0.65		0.39	0.73	-0.66	-0.25	SVII
GFI	0.22	0.16	0.3	-0.12	0.42	0.39		0.49	-0.28	-0.01	GFI
KNF	0.71	0.73	0.85	0.31	0.86	0.73	0.49		-0.76	0.07	KNF
MRK	-0.86	-0.66	-0.94	-0.64	-0.82	-0.66	-0.28	-0.76		0.2	MRK
WES	-0.02	-0.15	-0.16	-0.37	-0.05	-0.25	-0.01	0.07	0.2		WES
	CVX	SCRYX	FRHC	GFL	RGAGX	SVII	GFI	KNF	MRK	WES

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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

RGAGX	+ 0.89	SCRYX
KNF	+ 0.86	RGAGX
RGAGX	+ 0.85	CVX
KNF	+ 0.85	FRHC
RGAGX	+ 0.84	FRHC
FRHC	+ 0.82	CVX

High negative correlations

MRK	- 0.94	FRHC
MRK	- 0.86	CVX
MRK	- 0.82	RGAGX
MRK	- 0.76	KNF
MRK	- 0.66	SVII
MRK	- 0.66	SCRYX

Risk-Adjusted Indicators

There is a big difference between Suncor Stock performing well and Suncor Energy 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 Suncor Energy'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
CVX	0.88	0.11	0.08	0.24	1.03	(0.92)	2.21	(1.79)	5.13
SCRYX	0.97	0.09	0.01	0.99	0.96	(1.10)	2.39	(1.69)	7.88
FRHC	1.37	0.47	0.25	0.96	1.13	(1.50)	4.02	(2.40)	7.38
GFL	1.23	0.05	0.02	0.15	1.36	(1.32)	2.97	(2.29)	7.37
RGAGX	0.69	0.11	0.02	(1.49)	0.91	(0.71)	1.34	(1.66)	4.40
SVII	0.20	(0.02)	(0.11)	0.00	0.39	(0.32)	0.44	(0.53)	4.77
GFI	2.21	(0.15)	0.00	1.25	0.00	0.00	4.52	(5.41)	14.93
KNF	1.58	0.26	0.15	0.22	1.88	(1.66)	4.01	(2.46)	12.96
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
WES	1.05	0.01	(0.04)	0.12	1.39	(1.02)	1.94	(2.16)	5.82

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