Correlation Between AMC Networks and WideOpenWest
Can any of the company-specific risk be diversified away by investing in both AMC Networks and WideOpenWest 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 AMC Networks and WideOpenWest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AMC Networks and WideOpenWest, you can compare the effects of market volatilities on AMC Networks and WideOpenWest 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 AMC Networks with a short position of WideOpenWest. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMC Networks and WideOpenWest.
Diversification Opportunities for AMC Networks and WideOpenWest
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AMC and WideOpenWest is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding AMC Networks and WideOpenWest in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WideOpenWest and AMC Networks 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 AMC Networks are associated (or correlated) with WideOpenWest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WideOpenWest has no effect on the direction of AMC Networks i.e., AMC Networks and WideOpenWest go up and down completely randomly.
Pair Corralation between AMC Networks and WideOpenWest
Given the investment horizon of 90 days AMC Networks is expected to under-perform the WideOpenWest. In addition to that, AMC Networks is 1.02 times more volatile than WideOpenWest. It trades about -0.03 of its total potential returns per unit of risk. WideOpenWest is currently generating about 0.03 per unit of volatility. If you would invest 380.00 in WideOpenWest on August 13, 2025 and sell it today you would earn a total of 137.00 from holding WideOpenWest or generate 36.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AMC Networks vs. WideOpenWest
Performance |
| Timeline |
| AMC Networks |
| WideOpenWest |
AMC Networks and WideOpenWest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AMC Networks and WideOpenWest
The main advantage of trading using opposite AMC Networks and WideOpenWest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMC Networks position performs unexpectedly, WideOpenWest 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 WideOpenWest will offset losses from the drop in WideOpenWest's long position.| AMC Networks vs. Alliance Entertainment Holding | AMC Networks vs. iHeartMedia Class A | AMC Networks vs. Ooma Inc | AMC Networks vs. Starz Entertainment LLC |
| WideOpenWest vs. Anterix | WideOpenWest vs. Gray Television | WideOpenWest vs. Thryv Holdings | WideOpenWest vs. TechTarget, Common Stock |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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