Correlation Between Comcast Corp and HubSpot

Can any of the company-specific risk be diversified away by investing in both Comcast Corp and HubSpot at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Comcast Corp and HubSpot into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Comcast Corp and HubSpot, you can compare the effects of market volatilities on Comcast Corp and HubSpot 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 Corp with a short position of HubSpot. Check out your portfolio center. Please also check ongoing floating volatility patterns of Comcast Corp and HubSpot.

Diversification Opportunities for Comcast Corp and HubSpot

0.27

Correlation Coefficient

Comcast Corp  HubSpot

Modest diversification

The 3 months correlation between Comcast and HubSpot is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Comcast Corp and HubSpot in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HubSpot and Comcast Corp 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 Corp are associated (or correlated) with HubSpot. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HubSpot has no effect on the direction of Comcast Corp i.e., Comcast Corp and HubSpot go up and down completely randomly.

Pair Corralation between Comcast Corp and HubSpot

Assuming the 90 days horizon Comcast Corp is expected to generate 0.64 times more return on investment than HubSpot. However, Comcast Corp is 1.57 times less risky than HubSpot. It trades about -0.09 of its potential returns per unit of risk. HubSpot is currently generating about -0.27 per unit of risk. If you would invest  3,440  in Comcast Corp on May 10, 2025 and sell it today you would lose (273.00) from holding Comcast Corp or give up 7.94% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Comcast Corp  vs.  HubSpot

Comcast Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days Comcast Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

HubSpot

Risk-Adjusted Performance

Weakest

Over the last 90 days HubSpot has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of abnormal performance in the last few months, the Stock's fundamental drivers remain comparatively stable which may send shares a bit higher in September 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with Comcast Corp and HubSpot

The main advantage of trading using opposite Comcast Corp and HubSpot positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Comcast Corp position performs unexpectedly, HubSpot 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 HubSpot will offset losses from the drop in HubSpot's long position.

The idea behind Comcast Corp and HubSpot pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.