Comtech Telecommunicatio Correlations

CC6 Stock

4.66 0.06 1.30%

The current 90-days correlation between Comtech Telecommunicatio and Computer And Technologies is 0.28 (i.e., Modest diversification). The correlation of Comtech Telecommunicatio 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.

Comtech Telecommunicatio Correlation With Market

Poor diversification

The correlation between Comtech Telecommunications Cor and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Comtech Telecommunications Cor and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Comtech Telecommunicatio could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Comtech Telecommunicatio when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Comtech Telecommunicatio - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Comtech Telecommunications Corp to buy it.

Moving together with Comtech Stock

0.7	ABE0	ALPHABET INC CDR	Pair Corr
0.68	ABEC	Alphabet Earnings Call Tomorrow	Pair Corr
0.69	ABEA	Alphabet Class A Earnings Call Tomorrow	Pair Corr
0.69	ABEA	Alphabet Class A Earnings Call Tomorrow	Pair Corr
0.69	ABEC	Alphabet Earnings Call Tomorrow	Pair Corr
0.71	E908	Lyxor 1	Pair Corr
0.81	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Comtech Stock

0.84	APC	Apple Inc	Pair Corr
0.83	DBPD	Xtrackers ShortDAX	Pair Corr
0.82	APC	Apple Inc	Pair Corr
0.67	MSF	Microsoft	Pair Corr

Related Correlations Analysis

	CVB	H3M	8P7	45P	AFW	SL4	2XT	H3M
CVB		-0.55	0.55	0.3	-0.5	0.43	-0.34	-0.52	CVB
H3M	-0.55		-0.55	-0.76	0.8	-0.08	0.49	0.89	H3M
8P7	0.55	-0.55		0.4	-0.8	0.31	-0.72	-0.8	8P7
45P	0.3	-0.76	0.4		-0.64	0.14	-0.32	-0.74	45P
AFW	-0.5	0.8	-0.8	-0.64		-0.08	0.79	0.91	AFW
SL4	0.43	-0.08	0.31	0.14	-0.08		0.01	-0.16	SL4
2XT	-0.34	0.49	-0.72	-0.32	0.79	0.01		0.69	2XT
H3M	-0.52	0.89	-0.8	-0.74	0.91	-0.16	0.69		H3M
	CVB	H3M	8P7	45P	AFW	SL4	2XT	H3M

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

H3M	+ 0.91	AFW
H3M	+ 0.89	H3M
AFW	+ 0.8	H3M
2XT	+ 0.79	AFW
H3M	+ 0.69	2XT
8P7	+ 0.55	CVB

High negative correlations

H3M	- 0.8	8P7
AFW	- 0.8	8P7
45P	- 0.76	H3M
H3M	- 0.74	45P
2XT	- 0.72	8P7
AFW	- 0.64	45P

Risk-Adjusted Indicators

There is a big difference between Comtech Stock performing well and Comtech Telecommunicatio 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 Comtech Telecommunicatio'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
CVB	1.73	(0.13)	0.00	0.72	0.00	0.00	6.25	(5.88)	12.13
H3M	2.88	1.02	0.28	2.42	2.68	(3.39)	7.31	(5.31)	20.92
8P7	2.37	(0.34)	0.00	(6.48)	0.00	0.00	5.26	(5.11)	15.02
45P	3.68	(0.32)	0.00	(0.15)	0.00	0.00	9.00	(9.09)	65.61
AFW	1.56	0.22	0.13	0.31	1.30	(2.03)	4.55	(2.33)	9.40
SL4	2.94	(0.21)	0.00	3.82	0.00	0.00	5.36	(5.61)	29.72
2XT	1.92	0.05	0.02	0.11	2.28	(2.36)	4.74	(4.65)	12.40
H3M	1.80	0.62	0.24	(4.61)	1.21	(2.88)	5.72	(3.14)	11.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in Comtech Telecommunicatio without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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