Correlation Between Assurant and COMCAST
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By analyzing existing cross correlation between Assurant and COMCAST PORATION, you can compare the effects of market volatilities on Assurant and COMCAST 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 Assurant with a short position of COMCAST. Check out your portfolio center. Please also check ongoing floating volatility patterns of Assurant and COMCAST.
Diversification Opportunities for Assurant and COMCAST
Good diversification
The 3 months correlation between Assurant and COMCAST is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Assurant and COMCAST PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COMCAST PORATION and Assurant 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 Assurant are associated (or correlated) with COMCAST. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COMCAST PORATION has no effect on the direction of Assurant i.e., Assurant and COMCAST go up and down completely randomly.
Pair Corralation between Assurant and COMCAST
Considering the 90-day investment horizon Assurant is expected to generate 0.74 times more return on investment than COMCAST. However, Assurant is 1.35 times less risky than COMCAST. It trades about 0.1 of its potential returns per unit of risk. COMCAST PORATION is currently generating about 0.02 per unit of risk. If you would invest 15,881 in Assurant on September 15, 2024 and sell it today you would earn a total of 5,902 from holding Assurant or generate 37.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.51% |
| Values | Daily Returns |
Assurant vs. COMCAST PORATION
Performance |
| Timeline |
| Assurant |
| COMCAST PORATION |
Assurant and COMCAST Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Assurant and COMCAST
The main advantage of trading using opposite Assurant and COMCAST positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Assurant position performs unexpectedly, COMCAST 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 COMCAST will offset losses from the drop in COMCAST's long position.| Assurant vs. Assured Guaranty | Assurant vs. Ambac Financial Group | Assurant vs. AMERISAFE | Assurant vs. Enact Holdings |
| COMCAST vs. Marfrig Global Foods | COMCAST vs. Kinsale Capital Group | COMCAST vs. Aegon NV ADR | COMCAST vs. Assurant |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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