Correlation Between Xponential Fitness and BPCEGP
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By analyzing existing cross correlation between Xponential Fitness and BPCEGP 2277 20 JAN 32, you can compare the effects of market volatilities on Xponential Fitness and BPCEGP 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 BPCEGP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xponential Fitness and BPCEGP.
Diversification Opportunities for Xponential Fitness and BPCEGP
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Xponential and BPCEGP is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Xponential Fitness and BPCEGP 2277 20 JAN 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BPCEGP 2277 20 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 BPCEGP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BPCEGP 2277 20 has no effect on the direction of Xponential Fitness i.e., Xponential Fitness and BPCEGP go up and down completely randomly.
Pair Corralation between Xponential Fitness and BPCEGP
Given the investment horizon of 90 days Xponential Fitness is expected to generate 4.91 times more return on investment than BPCEGP. However, Xponential Fitness is 4.91 times more volatile than BPCEGP 2277 20 JAN 32. It trades about 0.01 of its potential returns per unit of risk. BPCEGP 2277 20 JAN 32 is currently generating about 0.03 per unit of risk. If you would invest 2,254 in Xponential Fitness on September 14, 2024 and sell it today you would lose (797.00) from holding Xponential Fitness or give up 35.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 51.72% |
| Values | Daily Returns |
Xponential Fitness vs. BPCEGP 2277 20 JAN 32
Performance |
| Timeline |
| Xponential Fitness |
| BPCEGP 2277 20 |
Xponential Fitness and BPCEGP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xponential Fitness and BPCEGP
The main advantage of trading using opposite Xponential Fitness and BPCEGP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xponential Fitness position performs unexpectedly, BPCEGP 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 BPCEGP will offset losses from the drop in BPCEGP's long position.The idea behind Xponential Fitness and BPCEGP 2277 20 JAN 32 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.| BPCEGP vs. HUTCHMED DRC | BPCEGP vs. Grocery Outlet Holding | BPCEGP vs. SunLink Health Systems | BPCEGP vs. Xponential Fitness |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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