Correlation Between F45 Training and Peloton Interactive
Can any of the company-specific risk be diversified away by investing in both F45 Training and Peloton Interactive 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 F45 Training and Peloton Interactive into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between F45 Training Holdings and Peloton Interactive, you can compare the effects of market volatilities on F45 Training and Peloton Interactive 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 F45 Training with a short position of Peloton Interactive. Check out your portfolio center. Please also check ongoing floating volatility patterns of F45 Training and Peloton Interactive.
Diversification Opportunities for F45 Training and Peloton Interactive
-0.86 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between F45 and Peloton is -0.86. Overlapping area represents the amount of risk that can be diversified away by holding F45 Training Holdings and Peloton Interactive in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peloton Interactive and F45 Training 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 F45 Training Holdings are associated (or correlated) with Peloton Interactive. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peloton Interactive has no effect on the direction of F45 Training i.e., F45 Training and Peloton Interactive go up and down completely randomly.
Pair Corralation between F45 Training and Peloton Interactive
If you would invest 640.00 in Peloton Interactive on August 28, 2024 and sell it today you would earn a total of 318.00 from holding Peloton Interactive or generate 49.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 4.76% |
| Values | Daily Returns |
F45 Training Holdings vs. Peloton Interactive
Performance |
| Timeline |
| F45 Training Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Peloton Interactive |
F45 Training and Peloton Interactive Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with F45 Training and Peloton Interactive
The main advantage of trading using opposite F45 Training and Peloton Interactive positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if F45 Training position performs unexpectedly, Peloton Interactive 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 Peloton Interactive will offset losses from the drop in Peloton Interactive's long position.| F45 Training vs. Life Time Group | F45 Training vs. Bowlero Corp | F45 Training vs. Planet Fitness | F45 Training vs. JAKKS Pacific |
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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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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