Sun Life Correlations

SLF Stock

USD 58.43 0.20 0.34%

The current 90-days correlation between Sun Life Financial and Axa Equitable Holdings is -0.02 (i.e., Good diversification). The correlation of Sun Life is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Sun Life Correlation With Market

Weak diversification

The correlation between Sun Life Financial and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sun Life Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Sun Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sun Life Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Sun Stock

0.68	AIG	American International	Pair Corr
0.84	GSHD	Goosehead Insurance	Pair Corr
0.67	AC	Associated Capital	Pair Corr
0.72	CB	Chubb	Pair Corr

Moving against Sun Stock

0.83	FGNXP	Fundamental Global	Pair Corr
0.81	HIG-PG	The Hartford Financial	Pair Corr
0.81	L	Loews Corp	Pair Corr
0.8	ATH-PD	Athene Holding	Pair Corr
0.79	ACGLO	Arch Capital Group	Pair Corr
0.78	C	Citigroup Aggressive Push	Pair Corr
0.75	WDH	Waterdrop ADR Earnings Call This Week	Pair Corr
0.72	ACGLN	Arch Capital Group	Pair Corr
0.71	ATH-PA	Athene Holding	Pair Corr
0.7	AEG	Aegon NV ADR Sell-off Trend	Pair Corr
0.64	EQH-PA	Equitable Holdings	Pair Corr
0.63	ATH-PB	Athene Holding	Pair Corr
0.6	ATH-PE	Athene Holding	Pair Corr
0.58	IGIC	International General	Pair Corr
0.48	EQH-PC	Equitable Holdings	Pair Corr
0.43	HIG	Hartford Financial	Pair Corr
0.34	AB	AllianceBernstein	Pair Corr
0.9	DB	Deutsche Bank AG	Pair Corr
0.89	BK	Bank of New York	Pair Corr
0.89	IX	Orix Corp Ads	Pair Corr
0.87	LC	LendingClub Corp	Pair Corr
0.84	CG	Carlyle Group	Pair Corr
0.81	GL	Globe Life	Pair Corr
0.81	MC	Moelis	Pair Corr
0.8	AX	Axos Financial	Pair Corr
0.78	BX	Blackstone Group	Pair Corr
0.75	MS	Morgan Stanley	Pair Corr
0.73	CM	Canadian Imperial Bank	Pair Corr
0.72	GS	Goldman Sachs Group	Pair Corr
0.7	HG	Hamilton Insurance Group,	Pair Corr

Related Correlations Analysis

	EQH	AIG	ACGL	ORI	HIG	GSHD	ACGLO	IGIC	BRK-B
EQH		0.5	0.2	0.38	0.04	0.3	0.02	0.01	0.37	EQH
AIG	0.5		0.66	0.28	0.11	0.72	-0.42	-0.33	0.69	AIG
ACGL	0.2	0.66		0.54	0.64	0.39	-0.07	-0.06	0.65	ACGL
ORI	0.38	0.28	0.54		0.8	-0.25	0.64	0.47	0.42	ORI
HIG	0.04	0.11	0.64	0.8		-0.28	0.51	0.35	0.43	HIG
GSHD	0.3	0.72	0.39	-0.25	-0.28		-0.76	-0.44	0.46	GSHD
ACGLO	0.02	-0.42	-0.07	0.64	0.51	-0.76		0.68	-0.18	ACGLO
IGIC	0.01	-0.33	-0.06	0.47	0.35	-0.44	0.68		-0.08	IGIC
BRK-B	0.37	0.69	0.65	0.42	0.43	0.46	-0.18	-0.08		BRK-B
	EQH	AIG	ACGL	ORI	HIG	GSHD	ACGLO	IGIC	BRK-B

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

HIG	+ 0.8	ORI
GSHD	+ 0.72	AIG
BRK-B	+ 0.69	AIG
IGIC	+ 0.68	ACGLO
ACGL	+ 0.66	AIG
BRK-B	+ 0.65	ACGL

High negative correlations

ACGLO	- 0.76	GSHD
IGIC	- 0.44	GSHD
ACGLO	- 0.42	AIG
IGIC	- 0.33	AIG
GSHD	- 0.28	HIG
GSHD	- 0.25	ORI

Risk-Adjusted Indicators

There is a big difference between Sun Stock performing well and Sun Life Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Sun Life's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EQH	1.31	0.02	(0.07)	0.01	1.54	(1.36)	2.96	(2.53)	5.87
AIG	0.89	(0.10)	0.00	(0.03)	0.00	0.00	1.68	(2.35)	6.34
ACGL	1.09	(0.12)	0.00	(0.20)	0.00	0.00	2.25	(2.69)	6.23
ORI	0.89	0.04	0.00	0.16	1.09	(0.92)	2.00	(2.10)	4.82
HIG	0.90	(0.05)	(0.06)	0.05	1.15	(0.90)	1.70	(1.90)	4.68
GSHD	2.04	(0.61)	0.00	(0.14)	0.00	0.00	4.05	(4.65)	19.01
ACGLO	0.41	0.04	(0.07)	0.22	0.42	(0.45)	0.78	(0.82)	2.72
IGIC	1.37	(0.05)	(0.02)	0.07	1.73	(1.43)	2.86	(3.04)	8.15
BRK-B	0.68	(0.07)	(0.12)	(0.01)	0.99	(0.64)	1.22	(1.47)	4.07

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