Correlation Between FTAI Aviation and Anterix
Can any of the company-specific risk be diversified away by investing in both FTAI Aviation and Anterix 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 FTAI Aviation and Anterix into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FTAI Aviation Ltd and Anterix, you can compare the effects of market volatilities on FTAI Aviation and Anterix 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 FTAI Aviation with a short position of Anterix. Check out your portfolio center. Please also check ongoing floating volatility patterns of FTAI Aviation and Anterix.
Diversification Opportunities for FTAI Aviation and Anterix
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between FTAI and Anterix is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding FTAI Aviation Ltd and Anterix in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anterix and FTAI Aviation 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 FTAI Aviation Ltd are associated (or correlated) with Anterix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anterix has no effect on the direction of FTAI Aviation i.e., FTAI Aviation and Anterix go up and down completely randomly.
Pair Corralation between FTAI Aviation and Anterix
Assuming the 90 days horizon FTAI Aviation Ltd is expected to generate 0.59 times more return on investment than Anterix. However, FTAI Aviation Ltd is 1.7 times less risky than Anterix. It trades about -0.12 of its potential returns per unit of risk. Anterix is currently generating about -0.24 per unit of risk. If you would invest 2,760 in FTAI Aviation Ltd on October 1, 2024 and sell it today you would lose (81.00) from holding FTAI Aviation Ltd or give up 2.93% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
FTAI Aviation Ltd vs. Anterix
Performance |
| Timeline |
| FTAI Aviation |
| Anterix |
FTAI Aviation and Anterix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FTAI Aviation and Anterix
The main advantage of trading using opposite FTAI Aviation and Anterix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FTAI Aviation position performs unexpectedly, Anterix 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 Anterix will offset losses from the drop in Anterix's long position.| FTAI Aviation vs. Ryder System | FTAI Aviation vs. Air Lease | FTAI Aviation vs. Vestis | FTAI Aviation vs. Willis Lease Finance |
| Anterix vs. Liberty Broadband Srs | Anterix vs. Liberty Broadband Srs | Anterix vs. Telefonica Brasil SA | Anterix vs. KT Corporation |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum |