Correlation Between Xponential Fitness and CITIGROUP
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By analyzing existing cross correlation between Xponential Fitness and CITIGROUP INC 465, 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
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Xponential and CITIGROUP is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Xponential Fitness and CITIGROUP INC 465 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CITIGROUP INC 465 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 465 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 6.89 times more return on investment than CITIGROUP. However, Xponential Fitness is 6.89 times more volatile than CITIGROUP INC 465. It trades about 0.17 of its potential returns per unit of risk. CITIGROUP INC 465 is currently generating about 0.0 per unit of risk. If you would invest 1,249 in Xponential Fitness on August 29, 2024 and sell it today you would earn a total of 290.00 from holding Xponential Fitness or generate 23.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xponential Fitness vs. CITIGROUP INC 465
Performance |
| Timeline |
| Xponential Fitness |
| CITIGROUP INC 465 |
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. Bowlero Corp | Xponential Fitness vs. JAKKS Pacific | Xponential Fitness vs. Acushnet Holdings Corp |
| CITIGROUP vs. Fidus Investment Corp | CITIGROUP vs. Canlan Ice Sports | CITIGROUP vs. Presidio Property Trust | CITIGROUP 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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