Correlation Between Coeur Mining and Sun Life
Can any of the company-specific risk be diversified away by investing in both Coeur Mining and Sun Life at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Coeur Mining and Sun Life into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Coeur Mining and Sun Life Financial, you can compare the effects of market volatilities on Coeur Mining and Sun Life 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 Coeur Mining with a short position of Sun Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of Coeur Mining and Sun Life.
Diversification Opportunities for Coeur Mining and Sun Life
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Coeur and Sun is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Coeur Mining and Sun Life Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sun Life Financial and Coeur Mining 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 Coeur Mining are associated (or correlated) with Sun Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sun Life Financial has no effect on the direction of Coeur Mining i.e., Coeur Mining and Sun Life go up and down completely randomly.
Pair Corralation between Coeur Mining and Sun Life
Assuming the 90 days horizon Coeur Mining is expected to generate 1.13 times more return on investment than Sun Life. However, Coeur Mining is 1.13 times more volatile than Sun Life Financial. It trades about 0.11 of its potential returns per unit of risk. Sun Life Financial is currently generating about 0.04 per unit of risk. If you would invest 444.00 in Coeur Mining on August 21, 2025 and sell it today you would earn a total of 34.00 from holding Coeur Mining or generate 7.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Coeur Mining vs. Sun Life Financial
Performance |
| Timeline |
| Coeur Mining |
| Sun Life Financial |
Coeur Mining and Sun Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Coeur Mining and Sun Life
The main advantage of trading using opposite Coeur Mining and Sun Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Coeur Mining position performs unexpectedly, Sun Life can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Sun Life will offset losses from the drop in Sun Life's long position.| Coeur Mining vs. SIVERS SEMICONDUCTORS AB | Coeur Mining vs. BANK HANDLOWY | Coeur Mining vs. Reliance Steel Aluminum | Coeur Mining vs. RYOHIN UNSPADR1 |
| Sun Life vs. Berkshire Hathaway | Sun Life vs. Berkshire Hathaway | Sun Life vs. Zurich Insurance Group | Sun Life vs. American International Group |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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