Correlation Between Sun Life and 81685VAA1
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By analyzing existing cross correlation between Sun Life Financial and SRE 325 15 JAN 32, you can compare the effects of market volatilities on Sun Life and 81685VAA1 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 81685VAA1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sun Life and 81685VAA1.
Diversification Opportunities for Sun Life and 81685VAA1
Average diversification
The 3 months correlation between Sun and 81685VAA1 is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and SRE 325 15 JAN 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SRE 325 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 81685VAA1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SRE 325 15 has no effect on the direction of Sun Life i.e., Sun Life and 81685VAA1 go up and down completely randomly.
Pair Corralation between Sun Life and 81685VAA1
Considering the 90-day investment horizon Sun Life Financial is expected to generate 1.46 times more return on investment than 81685VAA1. However, Sun Life is 1.46 times more volatile than SRE 325 15 JAN 32. It trades about 0.09 of its potential returns per unit of risk. SRE 325 15 JAN 32 is currently generating about 0.04 per unit of risk. If you would invest 4,813 in Sun Life Financial on September 14, 2024 and sell it today you would earn a total of 1,207 from holding Sun Life Financial or generate 25.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 44.61% |
| Values | Daily Returns |
Sun Life Financial vs. SRE 325 15 JAN 32
Performance |
| Timeline |
| Sun Life Financial |
| SRE 325 15 |
Sun Life and 81685VAA1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sun Life and 81685VAA1
The main advantage of trading using opposite Sun Life and 81685VAA1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sun Life position performs unexpectedly, 81685VAA1 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 81685VAA1 will offset losses from the drop in 81685VAA1'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 |
| 81685VAA1 vs. JetBlue Airways Corp | 81685VAA1 vs. Sun Life Financial | 81685VAA1 vs. Nok Airlines Public | 81685VAA1 vs. MGIC Investment Corp |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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