Correlation Between Comtech Telecommunicatio and Hat Trick

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

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

Diversification Opportunities for Comtech Telecommunicatio and Hat Trick

0.0

Correlation Coefficient

Comtech Telecommunicatio  Hat Trick

Pay attention - limited upside

The 3 months correlation between Comtech and Hat is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Comtech Telecommunications Cor and Hat Trick Beverage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hat Trick Beverage and Comtech Telecommunicatio 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 Comtech Telecommunications Corp are associated (or correlated) with Hat Trick. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hat Trick Beverage has no effect on the direction of Comtech Telecommunicatio i.e., Comtech Telecommunicatio and Hat Trick go up and down completely randomly.

Pair Corralation between Comtech Telecommunicatio and Hat Trick

If you would invest  232.00  in Comtech Telecommunications Corp on September 11, 2025 and sell it today you would earn a total of  120.00  from holding Comtech Telecommunications Corp or generate 51.72% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	98.44%
Values	Daily Returns

Comtech Telecommunications Cor  vs.  Hat Trick Beverage

Comtech Telecommunicatio

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Comtech Telecommunications Corp are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. Despite quite unsteady basic indicators, Comtech Telecommunicatio disclosed solid returns over the last few months and may actually be approaching a breakup point.

Hat Trick Beverage

Risk-Adjusted Performance

Weakest

Over the last 90 days Hat Trick Beverage has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable fundamental drivers, Hat Trick is not utilizing all of its potentials. The latest stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Pair Trading with Comtech Telecommunicatio and Hat Trick

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

The idea behind Comtech Telecommunications Corp and Hat Trick Beverage 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 Equity Valuation module to check real value of public entities based on technical and fundamental data.