Pair Correlation Between Suncor Energy and Hess

This module allows you to analyze existing cross correlation between Suncor Energy Inc and Hess Corporation. You can compare the effects of market volatilities on Suncor Energy and Hess 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 Suncor Energy with a short position of Hess. See also your portfolio center. Please also check ongoing floating volatility patterns of Suncor Energy and Hess.
Investment Horizon     30 Days    Login   to change
 Suncor Energy Inc  vs   Hess Corp.
 Performance (%) 

Pair Volatility

Allowing for the 30-days total investment horizon, Suncor Energy Inc is expected to generate 0.53 times more return on investment than Hess. However, Suncor Energy Inc is 1.88 times less risky than Hess. It trades about 0.06 of its potential returns per unit of risk. Hess Corporation is currently generating about -0.33 per unit of risk. If you would invest  3,071  in Suncor Energy Inc on July 23, 2017 and sell it today you would earn a total of  40.00  from holding Suncor Energy Inc or generate 1.3% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Suncor Energy and Hess


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Suncor Energy Inc and Hess Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Hess and Suncor Energy 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 Suncor Energy Inc are associated (or correlated) with Hess. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hess has no effect on the direction of Suncor Energy i.e. Suncor Energy and Hess go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

Suncor Energy Inc


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Suncor Energy Inc are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.



Risk-Adjusted Performance

Over the last 30 days Hess Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.