Correlation Between Sun Life and Wyndham
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By analyzing existing cross correlation between Sun Life Financial and Wyndham Destinations 51, you can compare the effects of market volatilities on Sun Life and Wyndham 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 Wyndham. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sun Life and Wyndham.
Diversification Opportunities for Sun Life and Wyndham
Modest diversification
The 3 months correlation between Sun and Wyndham is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and Wyndham Destinations 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wyndham Destinations 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 Wyndham. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wyndham Destinations has no effect on the direction of Sun Life i.e., Sun Life and Wyndham go up and down completely randomly.
Pair Corralation between Sun Life and Wyndham
Considering the 90-day investment horizon Sun Life Financial is expected to generate 6.81 times more return on investment than Wyndham. However, Sun Life is 6.81 times more volatile than Wyndham Destinations 51. It trades about 0.02 of its potential returns per unit of risk. Wyndham Destinations 51 is currently generating about -0.01 per unit of risk. If you would invest 5,651 in Sun Life Financial on January 15, 2025 and sell it today you would earn a total of 15.00 from holding Sun Life Financial or generate 0.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Sun Life Financial vs. Wyndham Destinations 51
Performance |
| Timeline |
| Sun Life Financial |
| Wyndham Destinations |
Sun Life and Wyndham Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sun Life and Wyndham
The main advantage of trading using opposite Sun Life and Wyndham positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sun Life position performs unexpectedly, Wyndham 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 Wyndham will offset losses from the drop in Wyndham'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 |
| Wyndham vs. Cresud SACIF y | Wyndham vs. Perseus Mining Limited | Wyndham vs. Western Asset Investment | Wyndham vs. Falcon Metals Limited |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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