Macroaxis: Personalized Investing

Personalized Investing and

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Benchmark  United States  NYSE  11,167   25.6172  -0.2289% 


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Collecting data for SU and HES ...

Correlation analysis between Suncor and Hess  

    
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 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 with a short position of Hess. Please also check ongoing floating volatility patterns of Suncor and Hess.
 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 generate 0.7 times more return on investment than Hess. However, Suncor Energy Inc is 1.43 times less risky than Hess. It trades about 0.47 of its potential returns per unit of risk. Hess Corporation is currently generating about 0.26 per unit of risk. If you would invest  2,920  in Suncor Energy Inc on March 28, 2015 and sell it today you would earn a total of  371.00  from holding Suncor Energy Inc or generate 12.71% return on investment over 30 days.

Correlation Coefficient

0.6

Parameters

Time Period1 Month [change]
DirectionPositive HES Moved Up vs SU
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor 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

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

Pair trading matchups for Suncor

ConocoPhillips vs. Suncor Energy Inc
Enterprise Products Partners LP vs. Suncor Energy Inc
Occidental Petroleum Corporation vs. Suncor Energy Inc
EOG Resources Inc vs. Suncor Energy Inc
Anadarko Petroleum Corporation vs. Suncor Energy Inc
Canadian Natural Resources Limited vs. Suncor Energy Inc
Devon Energy Corporation vs. Suncor Energy Inc
Pioneer Natural Resources Co vs. Suncor Energy Inc
Apache Corp vs. Suncor Energy Inc
  

Hess

  
Compared with the overall equity markets, risk-adjusted returns on investments in Hess Corporation are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Hess

ConocoPhillips vs. Hess Corporation
Enterprise Products Partners LP vs. Hess Corporation
Occidental Petroleum Corporation vs. Hess Corporation
EOG Resources Inc vs. Hess Corporation
Suncor Energy Inc vs. Hess Corporation
Anadarko Petroleum Corporation vs. Hess Corporation
Canadian Natural Resources Limited vs. Hess Corporation
Devon Energy Corporation vs. Hess Corporation
Pioneer Natural Resources Co vs. Hess Corporation
Apache Corp vs. Hess Corporation