Correlation Between Comcast Corp and Rev

Can any of the company-specific risk be diversified away by investing in both Comcast Corp and Rev 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 Rev into the same portfolio, which is an essential part of the fundamental portfolio management process.

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

Diversification Opportunities for Comcast Corp and Rev

0.68

Correlation Coefficient

Comcast Corp  Rev

Poor diversification

The 3 months correlation between Comcast and Rev is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Comcast Corp and Rev Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rev Group 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 Rev. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rev Group has no effect on the direction of Comcast Corp i.e., Comcast Corp and Rev go up and down completely randomly.

Pair Corralation between Comcast Corp and Rev

Assuming the 90 days horizon Comcast Corp is expected to under-perform the Rev. But the stock apears to be less risky and, when comparing its historical volatility, Comcast Corp is 1.66 times less risky than Rev. The stock trades about -0.16 of its potential returns per unit of risk. The Rev Group is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  6,021  in Rev Group on September 13, 2025 and sell it today you would lose (48.00) from holding Rev Group or give up 0.8% of portfolio value over 90 days.

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

Comcast Corp  vs.  Rev Group

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 uncertain performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in January 2026. The current disturbance may also be a sign of long term up-swing for the company investors.

Rev Group

Risk-Adjusted Performance

Weakest

Over the last 90 days Rev Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Rev is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Comcast Corp and Rev

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

The idea behind Comcast Corp and Rev Group 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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.