Correlation Between Comcast Corp and Repare Therapeutics

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

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

Diversification Opportunities for Comcast Corp and Repare Therapeutics

-0.65

Correlation Coefficient

Comcast Corp  Repare Therapeutics

Excellent diversification

The 3 months correlation between Comcast and Repare is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Comcast Corp and Repare Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Repare Therapeutics 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 Repare Therapeutics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Repare Therapeutics has no effect on the direction of Comcast Corp i.e., Comcast Corp and Repare Therapeutics go up and down completely randomly.

Pair Corralation between Comcast Corp and Repare Therapeutics

Assuming the 90 days horizon Comcast Corp is expected to under-perform the Repare Therapeutics. But the stock apears to be less risky and, when comparing its historical volatility, Comcast Corp is 2.06 times less risky than Repare Therapeutics. The stock trades about -0.06 of its potential returns per unit of risk. The Repare Therapeutics is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  125.00  in Repare Therapeutics on July 24, 2025 and sell it today you would earn a total of  63.00  from holding Repare Therapeutics or generate 50.4% return on investment over 90 days.

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

Comcast Corp  vs.  Repare Therapeutics

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 November 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Repare Therapeutics

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Repare Therapeutics are ranked lower than 15 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, Repare Therapeutics showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Comcast Corp and Repare Therapeutics

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

The idea behind Comcast Corp and Repare Therapeutics 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.

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