Correlation Between Kinsale Capital and COMCAST
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By analyzing existing cross correlation between Kinsale Capital Group and COMCAST PORATION, you can compare the effects of market volatilities on Kinsale Capital 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 Kinsale Capital with a short position of COMCAST. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kinsale Capital and COMCAST.
Diversification Opportunities for Kinsale Capital and COMCAST
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kinsale and COMCAST is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Kinsale Capital Group and COMCAST PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COMCAST PORATION and Kinsale Capital 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 Kinsale Capital Group 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 Kinsale Capital i.e., Kinsale Capital and COMCAST go up and down completely randomly.
Pair Corralation between Kinsale Capital and COMCAST
Given the investment horizon of 90 days Kinsale Capital Group is expected to generate 1.55 times more return on investment than COMCAST. However, Kinsale Capital is 1.55 times more volatile than COMCAST PORATION. It trades about 0.06 of its potential returns per unit of risk. COMCAST PORATION is currently generating about 0.02 per unit of risk. If you would invest 35,627 in Kinsale Capital Group on September 15, 2024 and sell it today you would earn a total of 15,046 from holding Kinsale Capital Group or generate 42.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.51% |
| Values | Daily Returns |
Kinsale Capital Group vs. COMCAST PORATION
Performance |
| Timeline |
| Kinsale Capital Group |
| COMCAST PORATION |
Kinsale Capital and COMCAST Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kinsale Capital and COMCAST
The main advantage of trading using opposite Kinsale Capital and COMCAST positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kinsale Capital 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.| Kinsale Capital vs. Selective Insurance Group | Kinsale Capital vs. Horace Mann Educators | Kinsale Capital vs. Kemper | Kinsale Capital vs. ProAssurance |
| 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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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