Pair Correlation Between Suncor Energy and Hess Corporation

Investment Horizon     30 Days    Login   to change
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 Corporation 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 Corporation. Please also check ongoing floating volatility patterns of Suncor Energy and Hess Corporation.
 Suncor Energy Inc.  vs   Hess Corp.
Daily Returns (%)
SU   HES   
Benchmark  Embed   Timeline 
Allowing for the 30-days total investment horizon, Suncor Energy Inc is expected to under-perform the Hess Corporation. But the stock apears to be less risky and, when comparing its historical volatility, Suncor Energy Inc is 1.53 times less risky than Hess Corporation. The stock trades about -0.25 of its potential returns per unit of risk. The Hess Corporation is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  5,762  in Hess Corporation on November 1, 2015 and sell it today you would earn a total of  138.00  from holding Hess Corporation or generate 2.4% return on investment over 30 days.

Correlation Coefficient



Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

Overlapping area represents 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

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Suncor Energy


Risk-adjusted Performance

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

Pair trading matchups for Suncor Energy




Risk-adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Hess Corporation are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Hess Corporation