Correlation Between AptarGroup and Anteris Technologies

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

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

Diversification Opportunities for AptarGroup and Anteris Technologies

-0.67

Correlation Coefficient

AptarGroup  Anteris Technologies

Excellent diversification

The 3 months correlation between AptarGroup and Anteris is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding AptarGroup and Anteris Technologies Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anteris Technologies and AptarGroup 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 AptarGroup are associated (or correlated) with Anteris Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anteris Technologies has no effect on the direction of AptarGroup i.e., AptarGroup and Anteris Technologies go up and down completely randomly.

Pair Corralation between AptarGroup and Anteris Technologies

If you would invest  551.00  in Anteris Technologies Global on December 22, 2024 and sell it today you would lose (33.00) from holding Anteris Technologies Global or give up 5.99% of portfolio value over 90 days.

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

AptarGroup  vs.  Anteris Technologies Global

AptarGroup

Risk-Adjusted Performance

Very Weak

Over the last 90 days AptarGroup has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest unsteady performance, the Stock's basic indicators remain invariable and the latest agitation on Wall Street may also be a sign of long-running gains for the enterprise retail investors.

Anteris Technologies

Risk-Adjusted Performance

Very Weak

Over the last 90 days Anteris Technologies Global has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable basic indicators, Anteris Technologies is not utilizing all of its potentials. The newest stock price agitation, may contribute to short-term losses for the retail investors.

Pair Trading with AptarGroup and Anteris Technologies

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

The idea behind AptarGroup and Anteris Technologies Global 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.