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Benchmark  United States  NYSE  11,051   51.602 Index Moved Down -0.46%  

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   
Benchmark  Embed   Timeline 
Allowing for the 30-days total investment horizon, Suncor Energy Inc is expected to under-perform the Hess. In addition to that, Suncor is 1.02 times more volatile than Hess Corporation. It trades about -0.12 of its total potential returns per unit of risk. Hess Corporation is currently generating about 0.23 per unit of volatility. If you would invest  7,008  in Hess Corporation on February 2, 2015 and sell it today you would earn a total of  441.00  from holding Hess Corporation or generate 6.29% return on investment over 30 days.

Correlation Coefficient



Time Period1 Month [change]
DirectionPositive HES Moved Up vs SU
ValuesDaily Returns


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

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

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
Apache Corp vs. Suncor Energy Inc
Pioneer Natural Resources Co vs. Suncor Energy Inc
Hess Corporation vs. Suncor Energy Inc


Compared with the overall equity markets, risk-adjusted returns on investments in Hess Corporation are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Hess

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
Apache Corp vs. Hess Corporation
Pioneer Natural Resources Co vs. Hess Corporation



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