Correlation Between Comcast Corp and ZenaTech

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

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

Diversification Opportunities for Comcast Corp and ZenaTech

-0.28

Correlation Coefficient

Comcast Corp  ZenaTech

Very good diversification

The 3 months correlation between Comcast and ZenaTech is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Comcast Corp and ZenaTech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZenaTech 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 ZenaTech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZenaTech has no effect on the direction of Comcast Corp i.e., Comcast Corp and ZenaTech go up and down completely randomly.

Pair Corralation between Comcast Corp and ZenaTech

Assuming the 90 days horizon Comcast Corp is expected to under-perform the ZenaTech. But the stock apears to be less risky and, when comparing its historical volatility, Comcast Corp is 3.93 times less risky than ZenaTech. The stock trades about -0.18 of its potential returns per unit of risk. The ZenaTech is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  540.00  in ZenaTech on July 19, 2025 and sell it today you would lose (8.00) from holding ZenaTech or give up 1.48% of portfolio value over 90 days.

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

Comcast Corp  vs.  ZenaTech

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 weak 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.

ZenaTech

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in ZenaTech are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, ZenaTech may actually be approaching a critical reversion point that can send shares even higher in November 2025.

Pair Trading with Comcast Corp and ZenaTech

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

The idea behind Comcast Corp and ZenaTech 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.