Correlation Between Sun Life and 025816CW7
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By analyzing existing cross correlation between Sun Life Financial and AXP 405 03 MAY 29, you can compare the effects of market volatilities on Sun Life and 025816CW7 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 025816CW7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sun Life and 025816CW7.
Diversification Opportunities for Sun Life and 025816CW7
Excellent diversification
The 3 months correlation between Sun and 025816CW7 is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and AXP 405 03 MAY 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AXP 405 03 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 025816CW7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AXP 405 03 has no effect on the direction of Sun Life i.e., Sun Life and 025816CW7 go up and down completely randomly.
Pair Corralation between Sun Life and 025816CW7
Considering the 90-day investment horizon Sun Life Financial is expected to generate 2.01 times more return on investment than 025816CW7. However, Sun Life is 2.01 times more volatile than AXP 405 03 MAY 29. It trades about 0.09 of its potential returns per unit of risk. AXP 405 03 MAY 29 is currently generating about 0.0 per unit of risk. If you would invest 4,962 in Sun Life Financial on September 4, 2024 and sell it today you would earn a total of 1,167 from holding Sun Life Financial or generate 23.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.19% |
| Values | Daily Returns |
Sun Life Financial vs. AXP 405 03 MAY 29
Performance |
| Timeline |
| Sun Life Financial |
| AXP 405 03 |
Sun Life and 025816CW7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sun Life and 025816CW7
The main advantage of trading using opposite Sun Life and 025816CW7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sun Life position performs unexpectedly, 025816CW7 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 025816CW7 will offset losses from the drop in 025816CW7'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 |
| 025816CW7 vs. AEP TEX INC | 025816CW7 vs. US BANK NATIONAL | 025816CW7 vs. MetLife | 025816CW7 vs. Brera Holdings PLC |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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