Comcast Correlations
| CMCS34 Stock | BRL 33.14 0.05 0.15% |
The current 90-days correlation between Comcast and DCVY34 is -0.09 (i.e., Good 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
Poor diversification
The correlation between Comcast 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 Comcast and DJI in the same portfolio, assuming nothing else is changed.
Comcast |
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
| 0.64 | CHCM34 | Charter Communications | PairCorr |
| 0.7 | L1YV34 | Live Nation Entertainment | PairCorr |
| 0.75 | JNJB34 | Johnson Johnson | PairCorr |
| 0.7 | PNVL3 | Dimed SA Distribuidora | PairCorr |
| 0.75 | ONCO3 | Oncoclinicas do Brasil | PairCorr |
| 0.67 | DASA3 | Diagnsticos da Amrica | PairCorr |
| 0.65 | N1WL34 | Newell Brands | PairCorr |
| 0.64 | BCPX39 | Global X Funds Split | PairCorr |
| 0.63 | IRBR3 | IRB Brasil Resseguros | PairCorr |
Moving against Comcast Stock
Related Correlations Analysis
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