Correlation Between Comcast Corp and Ultra Fund

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

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

Diversification Opportunities for Comcast Corp and Ultra Fund

-0.73

Correlation Coefficient

Comcast Corp  Ultra Fund

Pay attention - limited upside

The 3 months correlation between Comcast and Ultra is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Comcast Corp and Ultra Fund Investor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ultra Fund Investor 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 Ultra Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ultra Fund Investor has no effect on the direction of Comcast Corp i.e., Comcast Corp and Ultra Fund go up and down completely randomly.

Pair Corralation between Comcast Corp and Ultra Fund

Assuming the 90 days horizon Comcast Corp is expected to under-perform the Ultra Fund. In addition to that, Comcast Corp is 1.72 times more volatile than Ultra Fund Investor. It trades about -0.15 of its total potential returns per unit of risk. Ultra Fund Investor is currently generating about 0.16 per unit of volatility. If you would invest  9,567  in Ultra Fund Investor on July 2, 2025 and sell it today you would earn a total of  740.00  from holding Ultra Fund Investor or generate 7.73% 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.  Ultra Fund Investor

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.

Ultra Fund Investor

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Ultra Fund Investor are ranked lower than 12 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Ultra Fund may actually be approaching a critical reversion point that can send shares even higher in October 2025.

Pair Trading with Comcast Corp and Ultra Fund

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

The idea behind Comcast Corp and Ultra Fund Investor 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.