Correlation Between Sun Life and 59156RCC0
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sun Life Financial and MET 5 15 JUL 52, you can compare the effects of market volatilities on Sun Life and 59156RCC0 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 59156RCC0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sun Life and 59156RCC0.
Diversification Opportunities for Sun Life and 59156RCC0
Very good diversification
The 3 months correlation between Sun and 59156RCC0 is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and MET 5 15 JUL 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 59156RCC0 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 59156RCC0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 59156RCC0 has no effect on the direction of Sun Life i.e., Sun Life and 59156RCC0 go up and down completely randomly.
Pair Corralation between Sun Life and 59156RCC0
Considering the 90-day investment horizon Sun Life Financial is expected to generate 0.62 times more return on investment than 59156RCC0. However, Sun Life Financial is 1.62 times less risky than 59156RCC0. It trades about 0.52 of its potential returns per unit of risk. MET 5 15 JUL 52 is currently generating about 0.0 per unit of risk. If you would invest 5,514 in Sun Life Financial on September 4, 2024 and sell it today you would earn a total of 656.00 from holding Sun Life Financial or generate 11.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 85.71% |
| Values | Daily Returns |
Sun Life Financial vs. MET 5 15 JUL 52
Performance |
| Timeline |
| Sun Life Financial |
| 59156RCC0 |
Sun Life and 59156RCC0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sun Life and 59156RCC0
The main advantage of trading using opposite Sun Life and 59156RCC0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sun Life position performs unexpectedly, 59156RCC0 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 59156RCC0 will offset losses from the drop in 59156RCC0'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 |
| 59156RCC0 vs. AEP TEX INC | 59156RCC0 vs. US BANK NATIONAL | 59156RCC0 vs. MetLife | 59156RCC0 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |