Sunoco LP Correlations

SUN Stock

USD 61.40 0.91 1.50%

The current 90-days correlation between Sunoco LP and National Fuel Gas is 0.23 (i.e., Modest 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.

Sunoco LP Correlation With Market

Very weak diversification

The correlation between Sunoco LP and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sunoco LP and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Sunoco Stock

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 population.

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

Moving together with Sunoco Stock

0.72	AM	Antero Midstream Partners	Pair Corr
0.89	EE	Excelerate Energy	Pair Corr
0.88	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.71	TK	Teekay Earnings Call Tomorrow	Pair Corr
0.74	SRR	Source Rock Royalties	Pair Corr
0.86	AQ30	ALTAGAS LTD PRFG	Pair Corr
0.76	G2O	Golar LNG Limited Earnings Call This Week	Pair Corr
0.74	KEY	Keyera Corp	Pair Corr
0.68	TPZ	Topaz Energy Corp Earnings Call This Week	Pair Corr
0.79	P5P	Pembina Pipeline Corp	Pair Corr
0.83	TK41	Tsakos Energy Navigation	Pair Corr
0.74	K2Y	Keyera Corp	Pair Corr
0.85	CQP	Cheniere Energy Partners Earnings Call Tomorrow	Pair Corr
0.89	OCW	Euronav NV	Pair Corr
0.8	DHT	DHT Holdings	Pair Corr
0.87	DKL	Delek Logistics Partners	Pair Corr
0.74	DTM	DT Midstream Earnings Call Tomorrow	Pair Corr
0.81	EPD	Enterprise Products	Pair Corr
0.8	ETP	Energy Transfer Partners	Pair Corr
0.86	FRO	Frontline	Pair Corr
0.83	GEL	Genesis Energy LP	Pair Corr
0.83	GLP	Global Partners LP	Pair Corr
0.81	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.85	KYN	Kayne Anderson MLP	Pair Corr
0.85	LPG	Dorian LPG	Pair Corr
0.93	NAT	Nordic American Tankers Earnings Call This Week	Pair Corr
0.7	NGL	NGL Energy Partners	Pair Corr
0.8	OKE	ONEOK Inc Earnings Call This Week	Pair Corr
0.87	PAA	Plains All American	Pair Corr
0.8	PBA	Pembina Pipeline Corp Earnings Call Tomorrow	Pair Corr
0.83	SFL	SFL Corporation Sell-off Trend	Pair Corr

Related Correlations Analysis

	NFG	HESM	AM	APA	UGP	FRO	LEU	DINO	SOBO	RRC
NFG		0.85	0.89	0.79	0.82	0.67	-0.34	0.54	0.85	0.11	NFG
HESM	0.85		0.83	0.82	0.79	0.66	-0.1	0.35	0.76	-0.24	HESM
AM	0.89	0.83		0.79	0.85	0.78	-0.38	0.66	0.82	0.16	AM
APA	0.79	0.82	0.79		0.78	0.7	-0.07	0.56	0.61	0.1	APA
UGP	0.82	0.79	0.85	0.78		0.91	-0.07	0.7	0.74	0.06	UGP
FRO	0.67	0.66	0.78	0.7	0.91		-0.07	0.75	0.6	0.06	FRO
LEU	-0.34	-0.1	-0.38	-0.07	-0.07	-0.07		-0.35	-0.44	-0.32	LEU
DINO	0.54	0.35	0.66	0.56	0.7	0.75	-0.35		0.47	0.44	DINO
SOBO	0.85	0.76	0.82	0.61	0.74	0.6	-0.44	0.47		0.06	SOBO
RRC	0.11	-0.24	0.16	0.1	0.06	0.06	-0.32	0.44	0.06		RRC
	NFG	HESM	AM	APA	UGP	FRO	LEU	DINO	SOBO	RRC

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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

FRO	+ 0.91	UGP
AM	+ 0.89	NFG
HESM	+ 0.85	NFG
SOBO	+ 0.85	NFG
UGP	+ 0.85	AM
AM	+ 0.83	HESM

High negative correlations

SOBO	- 0.44	LEU
LEU	- 0.38	AM
DINO	- 0.35	LEU
LEU	- 0.34	NFG
RRC	- 0.32	LEU
RRC	- 0.24	HESM

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
NFG	0.81	0.13	0.09	1.56	0.85	(0.91)	1.72	(1.42)	5.52
HESM	0.95	0.14	0.09	0.59	0.99	(1.01)	2.29	(1.78)	5.02
AM	0.90	0.29	0.17	(2.27)	0.94	(0.96)	2.50	(1.86)	5.56
APA	2.11	0.17	0.06	0.35	2.29	(2.32)	3.77	(3.52)	13.20
UGP	1.78	0.29	0.11	0.33	2.32	(1.92)	3.25	(2.79)	13.99
FRO	1.88	0.44	0.17	5.13	2.08	(2.07)	3.94	(3.88)	13.55
LEU	4.71	(0.40)	0.00	(0.12)	0.00	0.00	9.83	(10.74)	34.66
DINO	1.57	0.08	0.03	0.20	1.56	(1.89)	4.03	(2.57)	7.95
SOBO	1.21	0.23	0.12	(1.25)	1.21	(1.39)	2.32	(2.41)	8.35
RRC	1.61	(0.07)	0.00	5.66	0.00	0.00	2.82	(3.01)	11.21

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