Correlation Between Sun Country and 84859BAB7
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By analyzing existing cross correlation between Sun Country Airlines and SAVE 8 20 SEP 25, you can compare the effects of market volatilities on Sun Country and 84859BAB7 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 Country with a short position of 84859BAB7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sun Country and 84859BAB7.
Diversification Opportunities for Sun Country and 84859BAB7
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Sun and 84859BAB7 is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Sun Country Airlines and SAVE 8 20 SEP 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SAVE 8 20 and Sun Country 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 Country Airlines are associated (or correlated) with 84859BAB7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SAVE 8 20 has no effect on the direction of Sun Country i.e., Sun Country and 84859BAB7 go up and down completely randomly.
Pair Corralation between Sun Country and 84859BAB7
Given the investment horizon of 90 days Sun Country Airlines is expected to generate 1.59 times more return on investment than 84859BAB7. However, Sun Country is 1.59 times more volatile than SAVE 8 20 SEP 25. It trades about -0.13 of its potential returns per unit of risk. SAVE 8 20 SEP 25 is currently generating about -0.75 per unit of risk. If you would invest 1,617 in Sun Country Airlines on December 8, 2024 and sell it today you would lose (148.00) from holding Sun Country Airlines or give up 9.15% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 31.82% |
| Values | Daily Returns |
Sun Country Airlines vs. SAVE 8 20 SEP 25
Performance |
| Timeline |
| Sun Country Airlines |
| SAVE 8 20 |
Sun Country and 84859BAB7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sun Country and 84859BAB7
The main advantage of trading using opposite Sun Country and 84859BAB7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sun Country position performs unexpectedly, 84859BAB7 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 84859BAB7 will offset losses from the drop in 84859BAB7's long position.| Sun Country vs. JetBlue Airways Corp | ||
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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