Correlation Between Alliant Energy and COMCAST
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By analyzing existing cross correlation between Alliant Energy Corp and COMCAST PORATION, you can compare the effects of market volatilities on Alliant Energy 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 Alliant Energy with a short position of COMCAST. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alliant Energy and COMCAST.
Diversification Opportunities for Alliant Energy and COMCAST
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Alliant and COMCAST is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Alliant Energy Corp and COMCAST PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COMCAST PORATION and Alliant Energy 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 Alliant Energy Corp 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 Alliant Energy i.e., Alliant Energy and COMCAST go up and down completely randomly.
Pair Corralation between Alliant Energy and COMCAST
Considering the 90-day investment horizon Alliant Energy Corp is expected to generate 0.57 times more return on investment than COMCAST. However, Alliant Energy Corp is 1.76 times less risky than COMCAST. It trades about 0.18 of its potential returns per unit of risk. COMCAST PORATION is currently generating about 0.08 per unit of risk. If you would invest 4,904 in Alliant Energy Corp on August 24, 2024 and sell it today you would earn a total of 1,416 from holding Alliant Energy Corp or generate 28.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Alliant Energy Corp vs. COMCAST PORATION
Performance |
| Timeline |
| Alliant Energy Corp |
| COMCAST PORATION |
Alliant Energy and COMCAST Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Alliant Energy and COMCAST
The main advantage of trading using opposite Alliant Energy and COMCAST positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Alliant Energy 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.| Alliant Energy vs. DTE Energy | Alliant Energy vs. Ameren Corp | Alliant Energy vs. CenterPoint Energy | Alliant Energy vs. Pinnacle West Capital |
| COMCAST vs. Oasis Hotel Resort | COMCAST vs. GEN Restaurant Group, | COMCAST vs. Alliant Energy Corp | COMCAST vs. United Utilities Group |
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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