Correlation Between Anterix and Multi Index

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

By analyzing existing cross correlation between Anterix and Multi Index 2060 Lifetime, you can compare the effects of market volatilities on Anterix and Multi Index 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 Anterix with a short position of Multi Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anterix and Multi Index.

Diversification Opportunities for Anterix and Multi Index

-0.9

Correlation Coefficient

Anterix  Multi Index

Pay attention - limited upside

The 3 months correlation between Anterix and Multi is -0.9. Overlapping area represents the amount of risk that can be diversified away by holding Anterix and Multi Index 2060 Lifetime in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi Index 2060 and Anterix 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 Anterix are associated (or correlated) with Multi Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi Index 2060 has no effect on the direction of Anterix i.e., Anterix and Multi Index go up and down completely randomly.

Pair Corralation between Anterix and Multi Index

Given the investment horizon of 90 days Anterix is expected to under-perform the Multi Index. In addition to that, Anterix is 3.82 times more volatile than Multi Index 2060 Lifetime. It trades about -0.16 of its total potential returns per unit of risk. Multi Index 2060 Lifetime is currently generating about 0.24 per unit of volatility. If you would invest  1,643  in Multi Index 2060 Lifetime on May 21, 2025 and sell it today you would earn a total of  149.00  from holding Multi Index 2060 Lifetime or generate 9.07% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Significant
Accuracy	98.39%
Values	Daily Returns

Anterix  vs.  Multi Index 2060 Lifetime

Anterix

Risk-Adjusted Performance

Weakest

Over the last 90 days Anterix has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unfluctuating performance in the last few months, the Stock's technical and fundamental indicators remain fairly strong which may send shares a bit higher in September 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Multi Index 2060

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Multi Index 2060 Lifetime are ranked lower than 19 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak forward-looking signals, Multi Index may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Anterix and Multi Index

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

The idea behind Anterix and Multi Index 2060 Lifetime 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 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.