Correlation Analysis Between Prudential Financial and SunCoke Energy

This module allows you to analyze existing cross correlation between Prudential Financial and SunCoke Energy. You can compare the effects of market volatilities on Prudential Financial and SunCoke Energy 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 Prudential Financial with a short position of SunCoke Energy. See also your portfolio center. Please also check ongoing floating volatility patterns of Prudential Financial and SunCoke Energy.
Horizon     30 Days    Login   to change
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Comparative Performance

Prudential Financial  
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Risk-Adjusted Performance

Over the last 30 days Prudential Financial has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's essential indicators remain comparatively unchanging which may send shares a bit higher in September 2019. The late uproar may also be a sign of mid-term up-swing for the firm leadership.
SunCoke Energy  
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Risk-Adjusted Performance

Over the last 30 days SunCoke Energy has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the company investors.

Prudential Financial and SunCoke Energy Volatility Contrast

 Predicted Return Density 
      Returns 

Prudential Financial Inc  vs.  SunCoke Energy Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Prudential Financial is expected to generate 0.67 times more return on investment than SunCoke Energy. However, Prudential Financial is 1.49 times less risky than SunCoke Energy. It trades about -0.24 of its potential returns per unit of risk. SunCoke Energy is currently generating about -0.25 per unit of risk. If you would invest  9,923  in Prudential Financial on July 27, 2019 and sell it today you would lose (2,010)  from holding Prudential Financial or give up 20.26% of portfolio value over 30 days.

Pair Corralation between Prudential Financial and SunCoke Energy

0.95
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Prudential Financial and SunCoke Energy

Prudential Financial Inc diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Prudential Financial Inc and SunCoke Energy Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SunCoke Energy and Prudential Financial is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Prudential Financial are associated (or correlated) with SunCoke Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SunCoke Energy has no effect on the direction of Prudential Financial i.e. Prudential Financial and SunCoke Energy go up and down completely randomly.

SunCoke Energy

Pair trading matchups for SunCoke Energy

See also your portfolio center. Please also try Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.


 
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