Sunoco LP Correlations

SUN Stock

USD 52.41 0.11 0.21%

The current 90-days correlation between Sunoco LP and United Rentals is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sunoco LP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sunoco LP moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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

To learn how to invest in Sunoco Stock, please use our How to Invest in Sunoco LP guide.

Moving together with Sunoco Stock

0.62	TGS	Transportadora de Gas	Pair Corr
0.64	0RMV	TechnipFMC PLC	Pair Corr
0.81	DGWPF	Drgerwerk AG	Pair Corr
0.7	LCDX	Caliber Imaging Diag	Pair Corr
0.64	NAUFF	NevGold Corp	Pair Corr
0.67	MGCV	MGC Ventures	Pair Corr

Moving against Sunoco Stock

0.76	AAGH	America Great Health	Pair Corr
0.51	NEXT	Nextdecade Corp	Pair Corr
0.35	RKLB	Rocket Lab USA	Pair Corr

Related Correlations Analysis

	FSLUF	URI	BSET	KFRC	HLFN	NRRWD	NUVR	MRK	AL	HGV
FSLUF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	FSLUF
URI	0.0		-0.24	-0.38	-0.53	0.95	-0.26	-0.71	-0.69	0.22	URI
BSET	0.0	-0.24		0.62	0.73	-0.23	0.77	0.66	0.74	0.64	BSET
KFRC	0.0	-0.38	0.62		0.55	-0.45	0.43	0.59	0.61	0.15	KFRC
HLFN	0.0	-0.53	0.73	0.55		-0.53	0.63	0.82	0.85	0.43	HLFN
NRRWD	0.0	0.95	-0.23	-0.45	-0.53		-0.28	-0.68	-0.7	0.26	NRRWD
NUVR	0.0	-0.26	0.77	0.43	0.63	-0.28		0.47	0.76	0.6	NUVR
MRK	0.0	-0.71	0.66	0.59	0.82	-0.68	0.47		0.82	0.22	MRK
AL	0.0	-0.69	0.74	0.61	0.85	-0.7	0.76	0.82		0.34	AL
HGV	0.0	0.22	0.64	0.15	0.43	0.26	0.6	0.22	0.34		HGV
	FSLUF	URI	BSET	KFRC	HLFN	NRRWD	NUVR	MRK	AL	HGV

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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

NRRWD	+ 0.95	URI
AL	+ 0.85	HLFN
MRK	+ 0.82	HLFN
AL	+ 0.82	MRK
NUVR	+ 0.77	BSET
AL	+ 0.76	NUVR

High negative correlations

MRK	- 0.71	URI
AL	- 0.7	NRRWD
AL	- 0.69	URI
MRK	- 0.68	NRRWD
NRRWD	- 0.53	HLFN
HLFN	- 0.53	URI

Risk-Adjusted Indicators

There is a big difference between Sunoco Stock performing well and Sunoco LP 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 Sunoco LP'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
FSLUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
URI	1.35	(0.29)	0.00	(0.17)	0.00	0.00	2.58	(3.10)	10.45
BSET	1.58	0.09	0.04	0.18	1.71	(2.06)	3.98	(2.54)	12.86
KFRC	2.04	0.10	0.04	0.20	2.03	(2.46)	2.82	(3.74)	32.43
HLFN	0.24	0.05	0.00	0.39	0.00	0.00	0.81	(0.33)	3.31
NRRWD	1.26	(0.58)	0.00	(5.24)	0.00	0.00	0.00	(2.59)	22.69
NUVR	1.68	0.14	0.04	0.20	2.40	(2.51)	4.53	(3.28)	19.27
MRK	1.42	0.43	0.32	0.55	0.97	(1.87)	4.85	(1.98)	11.45
AL	0.10	0.01	(0.30)	0.19	0.00	(0.13)	0.25	(0.17)	0.66
HGV	1.71	0.00	0.01	0.05	2.31	(1.60)	3.39	(3.49)	11.93

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