Correlation Between Xponential Fitness and CITIGROUP
Specify exactly 2 symbols:
By analyzing existing cross correlation between Xponential Fitness and CITIGROUP INC 6875, you can compare the effects of market volatilities on Xponential Fitness and CITIGROUP 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 CITIGROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xponential Fitness and CITIGROUP.
Diversification Opportunities for Xponential Fitness and CITIGROUP
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Xponential and CITIGROUP is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Xponential Fitness and CITIGROUP INC 6875 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 6875 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 CITIGROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CITIGROUP INC 6875 has no effect on the direction of Xponential Fitness i.e., Xponential Fitness and CITIGROUP go up and down completely randomly.
Pair Corralation between Xponential Fitness and CITIGROUP
Given the investment horizon of 90 days Xponential Fitness is expected to generate 3.62 times more return on investment than CITIGROUP. However, Xponential Fitness is 3.62 times more volatile than CITIGROUP INC 6875. It trades about 0.06 of its potential returns per unit of risk. CITIGROUP INC 6875 is currently generating about 0.02 per unit of risk. If you would invest 1,217 in Xponential Fitness on September 3, 2024 and sell it today you would earn a total of 307.00 from holding Xponential Fitness or generate 25.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 78.77% |
| Values | Daily Returns |
Xponential Fitness vs. CITIGROUP INC 6875
Performance |
| Timeline |
| Xponential Fitness |
| CITIGROUP INC 6875 |
Xponential Fitness and CITIGROUP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xponential Fitness and CITIGROUP
The main advantage of trading using opposite Xponential Fitness and CITIGROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xponential Fitness position performs unexpectedly, CITIGROUP 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 CITIGROUP will offset losses from the drop in CITIGROUP's long position.| Xponential Fitness vs. Planet Fitness | Xponential Fitness vs. JAKKS Pacific | Xponential Fitness vs. Mattel Inc | Xponential Fitness vs. OneSpaWorld Holdings |
| CITIGROUP vs. AEP TEX INC | CITIGROUP vs. US BANK NATIONAL | CITIGROUP vs. Jackson Financial | CITIGROUP vs. MetLife |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |