Correlation Between Sun Life and 090572AR9
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By analyzing existing cross correlation between Sun Life Financial and BIO 33 15 MAR 27, you can compare the effects of market volatilities on Sun Life and 090572AR9 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 090572AR9. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sun Life and 090572AR9.
Diversification Opportunities for Sun Life and 090572AR9
Excellent diversification
The 3 months correlation between Sun and 090572AR9 is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and BIO 33 15 MAR 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIO 33 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 090572AR9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BIO 33 15 has no effect on the direction of Sun Life i.e., Sun Life and 090572AR9 go up and down completely randomly.
Pair Corralation between Sun Life and 090572AR9
Considering the 90-day investment horizon Sun Life Financial is expected to generate 0.84 times more return on investment than 090572AR9. However, Sun Life Financial is 1.19 times less risky than 090572AR9. It trades about 0.14 of its potential returns per unit of risk. BIO 33 15 MAR 27 is currently generating about -0.21 per unit of risk. If you would invest 5,927 in Sun Life Financial on September 13, 2024 and sell it today you would earn a total of 142.50 from holding Sun Life Financial or generate 2.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 77.27% |
| Values | Daily Returns |
Sun Life Financial vs. BIO 33 15 MAR 27
Performance |
| Timeline |
| Sun Life Financial |
| BIO 33 15 |
Sun Life and 090572AR9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sun Life and 090572AR9
The main advantage of trading using opposite Sun Life and 090572AR9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sun Life position performs unexpectedly, 090572AR9 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 090572AR9 will offset losses from the drop in 090572AR9'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 |
| 090572AR9 vs. AEP TEX INC | 090572AR9 vs. US BANK NATIONAL | 090572AR9 vs. Alphabet Inc Class C | 090572AR9 vs. InMode |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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