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Benchmark  United States  NYSE  11,029   12.043 Index Moved Down -0.11%  


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Collecting data for SU and HES ...

Correlation analysis between Suncor and Hess 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   
 
Change Benchmark  Embed   Timeline 
Allowing for the 30-days total investment horizon, Suncor Energy Inc is expected to generate 1.34 times more return on investment than Hess. However, Suncor is 1.34 times more volatile than Hess Corporation. It trades about 0.09 of its potential returns per unit of risk. Hess Corporation is currently generating about 0.08 per unit of risk. If you would invest  3,395  in Suncor Energy Inc on October 26, 2014 and sell it today you would earn a total of  129.00  from holding Suncor Energy Inc or generate 3.8% return on investment over 30 days.

Correlation Coefficient

0.76
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
Investing ideals could easily outperform a given market if properly optimized
Get Hess Corporation research report. Reports are available in pdf format. Click Hess Report to view
  
Hess Report  
Get Suncor Energy Inc research report. Reports are available in pdf format. Click Suncor Report to view
  
Suncor Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Change Benchmark  Embed   Returns 

Suncor Energy

  
Compared with the overall equity markets, risk-adjusted returns on investments in Suncor Energy Inc are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Suncor

Federal National Mortgage Association vs. Suncor Energy Inc
FED NATL MTG PFD I vs. Suncor Energy Inc
Japan Tobacco Inc vs. Suncor Energy Inc
SK Innovation vs. Suncor Energy Inc
AP M vs. Suncor Energy Inc
Citigroup Inc vs. Suncor Energy Inc
Industrial and Commercial Bank of China Limited vs. Suncor Energy Inc
SGS SA vs. Suncor Energy Inc
Huntington Bancshares Incorporated vs. Suncor Energy Inc
  

Hess

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

Pair trading matchups for Hess

Federal National Mortgage Association vs. Hess Corporation
FED NATL MTG PFD I vs. Hess Corporation
Japan Tobacco Inc vs. Hess Corporation
SK Innovation vs. Hess Corporation
AP M vs. Hess Corporation
Citigroup Inc vs. Hess Corporation
Industrial and Commercial Bank of China Limited vs. Hess Corporation
SGS SA vs. Hess Corporation
Huntington Bancshares Incorporated vs. Hess Corporation


 

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