Correlation Between Rumble and Comstock Metals

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

By analyzing existing cross correlation between Rumble Inc and Comstock Metals, you can compare the effects of market volatilities on Rumble and Comstock Metals 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 Rumble with a short position of Comstock Metals. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rumble and Comstock Metals.

Diversification Opportunities for Rumble and Comstock Metals

0.0

Correlation Coefficient

Rumble  Comstock Metals

Pay attention - limited upside

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

Pair Corralation between Rumble and Comstock Metals

If you would invest  762.00  in Rumble Inc on May 6, 2025 and sell it today you would earn a total of  44.00  from holding Rumble Inc or generate 5.77% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	98.41%
Values	Daily Returns

Rumble Inc  vs.  Comstock Metals

Rumble Inc

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Rumble Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of very abnormal basic indicators, Rumble may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Comstock Metals

Risk-Adjusted Performance

Very Weak

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

Pair Trading with Rumble and Comstock Metals

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

The idea behind Rumble Inc and Comstock Metals 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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.