Correlation Between Xponential Fitness and KROGER
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By analyzing existing cross correlation between Xponential Fitness and KROGER 35 percent, you can compare the effects of market volatilities on Xponential Fitness and KROGER 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 KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xponential Fitness and KROGER.
Diversification Opportunities for Xponential Fitness and KROGER
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Xponential and KROGER is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Xponential Fitness and KROGER 35 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER 35 percent 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 KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER 35 percent has no effect on the direction of Xponential Fitness i.e., Xponential Fitness and KROGER go up and down completely randomly.
Pair Corralation between Xponential Fitness and KROGER
Given the investment horizon of 90 days Xponential Fitness is expected to generate 12.48 times more return on investment than KROGER. However, Xponential Fitness is 12.48 times more volatile than KROGER 35 percent. It trades about 0.01 of its potential returns per unit of risk. KROGER 35 percent is currently generating about -0.01 per unit of risk. If you would invest 2,240 in Xponential Fitness on September 3, 2024 and sell it today you would lose (716.00) from holding Xponential Fitness or give up 31.96% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.96% |
| Values | Daily Returns |
Xponential Fitness vs. KROGER 35 percent
Performance |
| Timeline |
| Xponential Fitness |
| KROGER 35 percent |
Xponential Fitness and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xponential Fitness and KROGER
The main advantage of trading using opposite Xponential Fitness and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xponential Fitness position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.| Xponential Fitness vs. Planet Fitness | Xponential Fitness vs. JAKKS Pacific | Xponential Fitness vs. Mattel Inc | Xponential Fitness vs. OneSpaWorld Holdings |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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