Correlation Between Anterix and Marcus

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

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

Diversification Opportunities for Anterix and Marcus

0.29

Correlation Coefficient

Anterix  Marcus

Modest diversification

The 3 months correlation between Anterix and Marcus is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Anterix and Marcus in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marcus 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 Marcus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marcus has no effect on the direction of Anterix i.e., Anterix and Marcus go up and down completely randomly.

Pair Corralation between Anterix and Marcus

Given the investment horizon of 90 days Anterix is expected to under-perform the Marcus. In addition to that, Anterix is 1.37 times more volatile than Marcus. It trades about -0.04 of its total potential returns per unit of risk. Marcus is currently generating about 0.0 per unit of volatility. If you would invest  1,544  in Marcus on August 26, 2025 and sell it today you would lose (35.00) from holding Marcus or give up 2.27% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Anterix  vs.  Marcus

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 latest unsteady performance, the Stock's technical and fundamental indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Marcus

Risk-Adjusted Performance

Weakest

Over the last 90 days Marcus has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable fundamental indicators, Marcus is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Anterix and Marcus

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

The idea behind Anterix and Marcus 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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.