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Benchmark  United States  NYSE  11,046   36.629 Index Moved Up 0.33%  


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Collecting data for SU and XOM ...

Correlation analysis between Suncor and Exxon

   
Investment horizon:  
  30 Days    Login   to change
This module allows you to analyze existing cross correlation between Suncor Energy Inc and Exxon Mobil Corporation. You can compare the effects of market volatilities on Suncor and Exxon 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 Exxon. Please also check ongoing floating volatility patterns of Suncor and Exxon.
 
 Suncor Energy Inc.  vs   Exxon Mobil Corp.
Daily Returns (%)
SU   XOM   
 
Change Benchmark  Embed  Timeline 
Allowing for the 30-days total investment horizon, Suncor is expected to generate 2.36 times less return on investment than Exxon. In addition to that, Suncor is 1.79 times more volatile than Exxon Mobil Corporation. It trades about 0.01 of its total potential returns per unit of risk. Exxon Mobil Corporation is currently generating about 0.03 per unit of volatility. If you would invest  9,894  in Exxon Mobil Corporation on July 31, 2014 and sell it today you would earn a total of  52.00  from holding Exxon Mobil Corporation or generate 0.53% return on investment over 30 days.

Correlation Coefficient

0.39
Parameters
Time Period1 Month [change]
DirectionPositive XOM Moved Up vs SU
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification
Overlapping area represents amount of risk that can be diversified away by holding Suncor Energy Inc. and Exxon Mobil Corp. in the same portfolio assuming nothing else is changed
Investing ideals could easily outperform a given market if properly optimized
  
Exxon Report  
  
Suncor Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
SU   XOM   

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

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Exxon Mobil

  
Compared with the overall equity markets, risk-adjusted returns on investments in Exxon Mobil Corporation are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Exxon

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