Suncor Energy Correlations

SU Stock

USD 39.55 0.01 0.03%

The current 90-days correlation between Suncor Energy and Merck Company is -0.11 (i.e., Good diversification). The correlation of Suncor Energy 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Suncor Energy Correlation With Market

Modest diversification

The correlation between Suncor Energy and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Suncor Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Suncor Energy. 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.

For more information on how to buy Suncor Stock please use our How to Invest in Suncor Energy guide.

Moving together with Suncor Stock

0.72	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.83	IMO	Imperial Oil	Pair Corr
0.78	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.68	HP	Helmerich and Payne	Pair Corr
0.8	PR	Permian Resources	Pair Corr
0.93	SM	SM Energy	Pair Corr
0.62	VIST	Vista Oil Gas	Pair Corr

Related Correlations Analysis

	CVX	MRK	PHVS	EAT	AA	EURL	COLL	OWL	AMMX	FQIFX
CVX		-0.86	0.36	0.91	0.87	-0.79	-0.74	0.83	0.03	0.14	CVX
MRK	-0.86		-0.58	-0.95	-0.84	0.9	0.84	-0.86	-0.13	0.06	MRK
PHVS	0.36	-0.58		0.62	0.53	-0.56	-0.52	0.61	-0.23	-0.19	PHVS
EAT	0.91	-0.95	0.62		0.87	-0.92	-0.87	0.87	0.0	-0.01	EAT
AA	0.87	-0.84	0.53	0.87		-0.66	-0.58	0.94	-0.05	0.34	AA
EURL	-0.79	0.9	-0.56	-0.92	-0.66		0.91	-0.72	-0.07	0.23	EURL
COLL	-0.74	0.84	-0.52	-0.87	-0.58	0.91		-0.61	-0.11	0.32	COLL
OWL	0.83	-0.86	0.61	0.87	0.94	-0.72	-0.61		0.02	0.28	OWL
AMMX	0.03	-0.13	-0.23	0.0	-0.05	-0.07	-0.11	0.02		-0.02	AMMX
FQIFX	0.14	0.06	-0.19	-0.01	0.34	0.23	0.32	0.28	-0.02		FQIFX
	CVX	MRK	PHVS	EAT	AA	EURL	COLL	OWL	AMMX	FQIFX

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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

OWL	+ 0.94	AA
EAT	+ 0.91	CVX
COLL	+ 0.91	EURL
EURL	+ 0.9	MRK
AA	+ 0.87	CVX
AA	+ 0.87	EAT

High negative correlations

EAT	- 0.95	MRK
EURL	- 0.92	EAT
COLL	- 0.87	EAT
OWL	- 0.86	MRK
MRK	- 0.86	CVX
AA	- 0.84	MRK

Risk-Adjusted Indicators

There is a big difference between Suncor Stock performing well and Suncor Energy 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 Suncor Energy'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
CVX	0.90	0.07	0.02	0.22	1.05	(0.93)	2.21	(1.79)	5.13
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
PHVS	2.94	0.25	0.09	0.29	2.99	(3.63)	7.76	(6.02)	21.41
EAT	1.87	0.79	0.46	0.75	1.25	(2.44)	5.04	(2.48)	11.91
AA	2.45	0.29	0.14	0.27	2.61	(2.76)	6.10	(5.76)	14.99
EURL	2.00	(0.56)	0.00	(0.38)	0.00	0.00	2.74	(5.13)	12.68
COLL	1.88	(0.41)	0.00	(0.22)	0.00	0.00	3.23	(4.47)	12.29
OWL	1.62	0.30	0.21	0.28	1.57	(1.86)	3.66	(2.80)	12.59
AMMX	3.48	(0.41)	0.00	0.41	0.00	0.00	5.71	(7.14)	58.33
FQIFX	0.31	0.00	(0.26)	0.24	0.38	(0.33)	0.67	(0.77)	1.81

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