Sun Life Correlations

Stocks . USA . 
Stock . Sun Life Financial
SLF Stock  USD 64.62  0.78  1.19%   
The current 90-days correlation between Sun Life Financial and Loews Corp is 0.8 (i.e., Very poor diversification). The correlation of Sun Life is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Sun Life Correlation With Market

Significant diversification

The correlation between Sun Life Financial and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Sun Stock
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sun Life Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Sun Stock

  0.86ESGR Enstar Group LimitedPairCorr
  0.96AEG Aegon NV ADRPairCorr
  0.67AIG American InternationalPairCorr
  0.94BNT Brookfield Wealth Symbol ChangePairCorr
  0.67WDH Waterdrop ADRPairCorr
  0.88HIG-PG The Hartford FinancialPairCorr
  0.67ESGRO Enstar Group LimitedPairCorr
  0.78FGFPP Fundamental GlobalPairCorr
  0.74ATH-PD Athene HoldingPairCorr
  0.75ATH-PE Athene HoldingPairCorr
  0.61ATH-PA Athene HoldingPairCorr
  0.74ATH-PB Athene HoldingPairCorr
  0.94ATH-PC Athene HoldingPairCorr
  0.94C Citigroup Aggressive PushPairCorr
  0.67L Loews CorpPairCorr
  0.82V Visa Class APairCorr
  0.72DHIL Diamond Hill InvestmentPairCorr
  0.84AB AllianceBernsteinPairCorr
  0.83AC Associated CapitalPairCorr
  0.92AX Axos FinancialPairCorr
  0.95BK Bank of New YorkPairCorr
  0.95BN Brookfield CorpPairCorr
  0.74BX Blackstone GroupPairCorr
  0.65BY Byline Bancorp Normal TradingPairCorr
  0.89CG Carlyle Group Normal TradingPairCorr
  0.97CM Canadian Imperial BankPairCorr
  0.96DB Deutsche Bank AGPairCorr

Moving against Sun Stock

  0.39IGIC International GeneralPairCorr
  0.71PT Pintec TechnologyPairCorr
  0.69FG FG Annuities LifePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
MTG
+ 0.97
ESNT
EWBC
+ 0.94
ESNT
MTG
+ 0.94
EWBC
L
+ 0.84
ESNT
MTG
+ 0.84
VGRDF
L
+ 0.79
EWBC
  
High negative correlations   
HKCVF
- 0.12
L

Risk-Adjusted Indicators

There is a big difference between Sun Stock performing well and Sun Life Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Sun Life's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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