Comcast Correlations

CMCS34 Stock

BRL 30.40 0.47 1.57%

The current 90-days correlation between Comcast and Broadcom is 0.16 (i.e., Average diversification). The correlation of Comcast 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.

Comcast Correlation With Market

Very good diversification

The correlation between Comcast and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Comcast and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Comcast could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Comcast 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 Comcast - 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 Comcast to buy it.

Moving together with Comcast Stock

0.68	L1YV34	Live Nation Entertainment	Pair Corr
0.61	HOND34	Honda Motor	Pair Corr

Moving against Comcast Stock

0.58	BMOB3	Bemobi Mobile Tech	Pair Corr
0.76	ALUP4	Alupar Investimento	Pair Corr
0.42	BPAC5	Banco BTG Pactual	Pair Corr
0.42	U1NM34	Unum Group	Pair Corr
0.4	RENT3F	RENT3F	Pair Corr
0.64	RAPT3F	RAPT3F	Pair Corr
0.38	KEPL3	Kepler Weber SA	Pair Corr
0.33	LAVV3	Lavvi Empreendimentos	Pair Corr

Related Correlations Analysis

	D1XC34	S1PO34	AVGO34	HOME34	NORD3	M1LM34	FMSC34	A1MT34
D1XC34		-0.42	-0.42	0.15	-0.34	-0.67	-0.59	0.67	D1XC34
S1PO34	-0.42		0.04	0.39	0.51	0.69	0.83	-0.84	S1PO34
AVGO34	-0.42	0.04		-0.23	0.06	0.0	0.1	0.0	AVGO34
HOME34	0.15	0.39	-0.23		0.2	0.24	0.01	-0.12	HOME34
NORD3	-0.34	0.51	0.06	0.2		0.49	0.54	-0.59	NORD3
M1LM34	-0.67	0.69	0.0	0.24	0.49		0.69	-0.83	M1LM34
FMSC34	-0.59	0.83	0.1	0.01	0.54	0.69		-0.92	FMSC34
A1MT34	0.67	-0.84	0.0	-0.12	-0.59	-0.83	-0.92		A1MT34
	D1XC34	S1PO34	AVGO34	HOME34	NORD3	M1LM34	FMSC34	A1MT34

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

FMSC34	+ 0.83	S1PO34
M1LM34	+ 0.69	S1PO34
FMSC34	+ 0.69	M1LM34
A1MT34	+ 0.67	D1XC34
FMSC34	+ 0.54	NORD3
NORD3	+ 0.51	S1PO34

High negative correlations

A1MT34	- 0.92	FMSC34
A1MT34	- 0.84	S1PO34
A1MT34	- 0.83	M1LM34
M1LM34	- 0.67	D1XC34
A1MT34	- 0.59	NORD3
FMSC34	- 0.59	D1XC34

Risk-Adjusted Indicators

There is a big difference between Comcast Stock performing well and Comcast 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 Comcast'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
D1XC34	1.05	0.25	0.00	0.89	0.00	0.00	1.35	(1.76)	16.74
S1PO34	1.74	(0.45)	0.00	(2.76)	0.00	0.00	3.44	(3.53)	12.02
AVGO34	2.22	(0.08)	0.00	(0.07)	0.00	0.00	4.55	(3.73)	22.74
HOME34	1.49	(0.09)	0.00	(0.16)	0.00	0.00	3.41	(2.78)	10.58
NORD3	1.83	(0.15)	0.00	(0.51)	0.00	0.00	8.93	(6.12)	32.99
M1LM34	0.01	(0.02)	0.00	1.54	0.00	0.00	0.00	0.00	0.59
FMSC34	0.34	(0.17)	0.00	2.59	0.00	0.00	0.00	(0.81)	5.85
A1MT34	2.35	0.54	0.20	1.01	2.11	(2.57)	5.44	(3.75)	11.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in Comcast 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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