Correlation Between Sun Life and Conifer Holdings,

Can any of the company-specific risk be diversified away by investing in both Sun Life and Conifer Holdings, at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Sun Life and Conifer Holdings, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Sun Life Financial and Conifer Holdings, 975, you can compare the effects of market volatilities on Sun Life and Conifer Holdings, 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 Conifer Holdings,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sun Life and Conifer Holdings,.

Diversification Opportunities for Sun Life and Conifer Holdings,

-0.3

Correlation Coefficient

Sun Life  Conifer Holdings,

Very good diversification

The 3 months correlation between Sun and Conifer is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and Conifer Holdings, 975 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Conifer Holdings, 975 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 Conifer Holdings,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Conifer Holdings, 975 has no effect on the direction of Sun Life i.e., Sun Life and Conifer Holdings, go up and down completely randomly.

Pair Corralation between Sun Life and Conifer Holdings,

Considering the 90-day investment horizon Sun Life is expected to generate 2.87 times less return on investment than Conifer Holdings,. But when comparing it to its historical volatility, Sun Life Financial is 3.35 times less risky than Conifer Holdings,. It trades about 0.08 of its potential returns per unit of risk. Conifer Holdings, 975 is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  2,100  in Conifer Holdings, 975 on October 26, 2024 and sell it today you would earn a total of  200.00  from holding Conifer Holdings, 975 or generate 9.52% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	93.22%
Values	Daily Returns

Sun Life Financial  vs.  Conifer Holdings, 975

Sun Life Financial

Risk-Adjusted Performance

6 of 100

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Sun Life Financial are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable essential indicators, Sun Life is not utilizing all of its potentials. The recent stock price disturbance, may contribute to mid-run losses for the stockholders.

Conifer Holdings, 975

Risk-Adjusted Performance

5 of 100

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Conifer Holdings, 975 are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, Conifer Holdings, showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Sun Life and Conifer Holdings,

The main advantage of trading using opposite Sun Life and Conifer Holdings, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sun Life position performs unexpectedly, Conifer Holdings, 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 Conifer Holdings, will offset losses from the drop in Conifer Holdings,'s long position.

The idea behind Sun Life Financial and Conifer Holdings, 975 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.