Correlation Between Sun Life and 05724BAD1
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sun Life Financial and BHI 2061 15 DEC 26, you can compare the effects of market volatilities on Sun Life and 05724BAD1 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 05724BAD1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sun Life and 05724BAD1.
Diversification Opportunities for Sun Life and 05724BAD1
Excellent diversification
The 3 months correlation between Sun and 05724BAD1 is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and BHI 2061 15 DEC 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BHI 2061 15 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 05724BAD1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BHI 2061 15 has no effect on the direction of Sun Life i.e., Sun Life and 05724BAD1 go up and down completely randomly.
Pair Corralation between Sun Life and 05724BAD1
Considering the 90-day investment horizon Sun Life Financial is expected to generate 3.31 times more return on investment than 05724BAD1. However, Sun Life is 3.31 times more volatile than BHI 2061 15 DEC 26. It trades about 0.07 of its potential returns per unit of risk. BHI 2061 15 DEC 26 is currently generating about 0.02 per unit of risk. If you would invest 4,712 in Sun Life Financial on September 4, 2024 and sell it today you would earn a total of 1,458 from holding Sun Life Financial or generate 30.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.93% |
| Values | Daily Returns |
Sun Life Financial vs. BHI 2061 15 DEC 26
Performance |
| Timeline |
| Sun Life Financial |
| BHI 2061 15 |
Sun Life and 05724BAD1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sun Life and 05724BAD1
The main advantage of trading using opposite Sun Life and 05724BAD1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sun Life position performs unexpectedly, 05724BAD1 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 05724BAD1 will offset losses from the drop in 05724BAD1'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 |
| 05724BAD1 vs. AEP TEX INC | 05724BAD1 vs. US BANK NATIONAL | 05724BAD1 vs. MetLife | 05724BAD1 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |