Correlation Between Xponential Fitness and F45 Training
Can any of the company-specific risk be diversified away by investing in both Xponential Fitness and F45 Training 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 Xponential Fitness and F45 Training into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Xponential Fitness and F45 Training Holdings, you can compare the effects of market volatilities on Xponential Fitness and F45 Training 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 Xponential Fitness with a short position of F45 Training. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xponential Fitness and F45 Training.
Diversification Opportunities for Xponential Fitness and F45 Training
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Xponential and F45 is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Xponential Fitness and F45 Training Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on F45 Training Holdings and Xponential Fitness 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 Xponential Fitness are associated (or correlated) with F45 Training. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of F45 Training Holdings has no effect on the direction of Xponential Fitness i.e., Xponential Fitness and F45 Training go up and down completely randomly.
Pair Corralation between Xponential Fitness and F45 Training
If you would invest 1,249 in Xponential Fitness on August 28, 2024 and sell it today you would earn a total of 321.00 from holding Xponential Fitness or generate 25.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Xponential Fitness vs. F45 Training Holdings
Performance |
| Timeline |
| Xponential Fitness |
| F45 Training Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Xponential Fitness and F45 Training Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xponential Fitness and F45 Training
The main advantage of trading using opposite Xponential Fitness and F45 Training positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xponential Fitness position performs unexpectedly, F45 Training 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 F45 Training will offset losses from the drop in F45 Training's long position.| Xponential Fitness vs. Planet Fitness | Xponential Fitness vs. Bowlero Corp | Xponential Fitness vs. JAKKS Pacific | Xponential Fitness vs. Acushnet Holdings Corp |
| F45 Training vs. Life Time Group | F45 Training vs. Bowlero Corp | F45 Training vs. Planet Fitness | F45 Training vs. JAKKS Pacific |
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.
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