Sunoco LP Correlations

SUN Stock

USD 55.03 0.58 1.07%

The current 90-days correlation between Sunoco LP and Eldorado Gold Corp is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sunoco LP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sunoco LP moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sunoco LP Correlation With Market

Poor diversification

The correlation between Sunoco LP and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sunoco LP and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Sunoco Stock, please use our How to Invest in Sunoco LP guide.

Moving together with Sunoco Stock

0.76	CAPL	Crossamerica Partners	Pair Corr
0.72	DMLP	Dorchester Minerals	Pair Corr

Moving against Sunoco Stock

0.46	AMTX	Aemetis Upward Rally	Pair Corr
0.34	PARR	Par Pacific Holdings Buyout Trend	Pair Corr
0.35	EP	Empire Petroleum Corp	Pair Corr
0.32	DWSN	Dawson Geophysical	Pair Corr

Related Correlations Analysis

	EGO	SKYW	CHKIF	SAND	AGZNF	AVNT	CPA
EGO		0.55	-0.01	0.94	0.75	0.19	0.67	EGO
SKYW	0.55		-0.12	0.7	0.84	0.73	0.93	SKYW
CHKIF	-0.01	-0.12		-0.12	0.1	0.08	0.01	CHKIF
SAND	0.94	0.7	-0.12		0.84	0.28	0.79	SAND
AGZNF	0.75	0.84	0.1	0.84		0.44	0.94	AGZNF
AVNT	0.19	0.73	0.08	0.28	0.44		0.59	AVNT
CPA	0.67	0.93	0.01	0.79	0.94	0.59		CPA
	EGO	SKYW	CHKIF	SAND	AGZNF	AVNT	CPA

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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

SAND	+ 0.94	EGO
CPA	+ 0.94	AGZNF
CPA	+ 0.93	SKYW
AGZNF	+ 0.84	SKYW
AGZNF	+ 0.84	SAND
CPA	+ 0.79	SAND

High negative correlations

SAND	- 0.12	CHKIF
CHKIF	- 0.12	SKYW
CHKIF	- 0.01	EGO

Risk-Adjusted Indicators

There is a big difference between Sunoco Stock performing well and Sunoco LP 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 Sunoco LP'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
EGO	2.14	0.32	0.09	0.99	2.55	(2.30)	5.32	(3.00)	18.49
SKYW	1.82	0.20	0.10	0.24	2.13	(2.06)	3.14	(3.18)	19.93
CHKIF	1.85	(0.32)	0.00	1.12	0.00	0.00	6.00	(7.55)	36.11
SAND	1.84	0.37	0.12	1.97	2.19	(2.13)	4.35	(3.33)	13.40
AGZNF	1.00	0.51	0.00	(13.98)	0.00	0.00	6.61	0.00	12.11
AVNT	2.19	(0.23)	0.00	(0.03)	0.00	0.00	4.30	(4.08)	20.83
CPA	1.47	0.24	0.10	0.40	1.78	(1.51)	3.11	(2.94)	12.56

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