Correlation Between Sun Life and FitLife Brands,
Can any of the company-specific risk be diversified away by investing in both Sun Life and FitLife Brands, at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Sun Life and FitLife Brands, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sun Life Financial and FitLife Brands, Common, you can compare the effects of market volatilities on Sun Life and FitLife Brands, and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Sun Life with a short position of FitLife Brands,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sun Life and FitLife Brands,.
Diversification Opportunities for Sun Life and FitLife Brands,
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sun and FitLife is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and FitLife Brands, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FitLife Brands, Common and Sun Life is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Sun Life Financial are associated (or correlated) with FitLife Brands,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FitLife Brands, Common has no effect on the direction of Sun Life i.e., Sun Life and FitLife Brands, go up and down completely randomly.
Pair Corralation between Sun Life and FitLife Brands,
Considering the 90-day investment horizon Sun Life Financial is expected to generate 0.35 times more return on investment than FitLife Brands,. However, Sun Life Financial is 2.85 times less risky than FitLife Brands,. It trades about 0.5 of its potential returns per unit of risk. FitLife Brands, Common is currently generating about 0.11 per unit of risk. If you would invest 5,506 in Sun Life Financial on September 2, 2024 and sell it today you would earn a total of 633.00 from holding Sun Life Financial or generate 11.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sun Life Financial vs. FitLife Brands, Common
Performance |
| Timeline |
| Sun Life Financial |
| FitLife Brands, Common |
Sun Life and FitLife Brands, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sun Life and FitLife Brands,
The main advantage of trading using opposite Sun Life and FitLife Brands, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sun Life position performs unexpectedly, FitLife Brands, can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in FitLife Brands, will offset losses from the drop in FitLife Brands,'s long position.| Sun Life vs. Axa Equitable Holdings | Sun Life vs. American International Group | Sun Life vs. Arch Capital Group | Sun Life vs. Old Republic International |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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