Correlation Between COMCAST and Bluerock Homes
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By analyzing existing cross correlation between COMCAST PORATION and Bluerock Homes Trust, you can compare the effects of market volatilities on COMCAST and Bluerock Homes 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 COMCAST with a short position of Bluerock Homes. Check out your portfolio center. Please also check ongoing floating volatility patterns of COMCAST and Bluerock Homes.
Diversification Opportunities for COMCAST and Bluerock Homes
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between COMCAST and Bluerock is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding COMCAST PORATION and Bluerock Homes Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bluerock Homes Trust and COMCAST 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 COMCAST PORATION are associated (or correlated) with Bluerock Homes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bluerock Homes Trust has no effect on the direction of COMCAST i.e., COMCAST and Bluerock Homes go up and down completely randomly.
Pair Corralation between COMCAST and Bluerock Homes
Assuming the 90 days trading horizon COMCAST PORATION is expected to under-perform the Bluerock Homes. But the bond apears to be less risky and, when comparing its historical volatility, COMCAST PORATION is 3.12 times less risky than Bluerock Homes. The bond trades about -0.12 of its potential returns per unit of risk. The Bluerock Homes Trust is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,423 in Bluerock Homes Trust on September 4, 2024 and sell it today you would earn a total of 9.00 from holding Bluerock Homes Trust or generate 0.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
COMCAST PORATION vs. Bluerock Homes Trust
Performance |
| Timeline |
| COMCAST PORATION |
| Bluerock Homes Trust |
COMCAST and Bluerock Homes Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with COMCAST and Bluerock Homes
The main advantage of trading using opposite COMCAST and Bluerock Homes positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if COMCAST position performs unexpectedly, Bluerock Homes 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 Bluerock Homes will offset losses from the drop in Bluerock Homes' long position.| COMCAST vs. Cedar Realty Trust | COMCAST vs. Weyco Group | COMCAST vs. LB Foster | COMCAST vs. National Vision Holdings |
| Bluerock Homes vs. Nexpoint Residential Trust | Bluerock Homes vs. Clipper Realty | Bluerock Homes vs. Centerspace | Bluerock Homes vs. Equity Lifestyle Properties |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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