Correlation Between Xponential Fitness and SOCGEN
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By analyzing existing cross correlation between Xponential Fitness and SOCGEN 4351 13 JUN 25, you can compare the effects of market volatilities on Xponential Fitness and SOCGEN 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 SOCGEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xponential Fitness and SOCGEN.
Diversification Opportunities for Xponential Fitness and SOCGEN
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Xponential and SOCGEN is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Xponential Fitness and SOCGEN 4351 13 JUN 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOCGEN 4351 13 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 SOCGEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOCGEN 4351 13 has no effect on the direction of Xponential Fitness i.e., Xponential Fitness and SOCGEN go up and down completely randomly.
Pair Corralation between Xponential Fitness and SOCGEN
Given the investment horizon of 90 days Xponential Fitness is expected to generate 25.19 times more return on investment than SOCGEN. However, Xponential Fitness is 25.19 times more volatile than SOCGEN 4351 13 JUN 25. It trades about 0.17 of its potential returns per unit of risk. SOCGEN 4351 13 JUN 25 is currently generating about -0.28 per unit of risk. If you would invest 1,261 in Xponential Fitness on September 4, 2024 and sell it today you would earn a total of 285.00 from holding Xponential Fitness or generate 22.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 47.62% |
| Values | Daily Returns |
Xponential Fitness vs. SOCGEN 4351 13 JUN 25
Performance |
| Timeline |
| Xponential Fitness |
| SOCGEN 4351 13 |
Xponential Fitness and SOCGEN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xponential Fitness and SOCGEN
The main advantage of trading using opposite Xponential Fitness and SOCGEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xponential Fitness position performs unexpectedly, SOCGEN 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 SOCGEN will offset losses from the drop in SOCGEN's long position.| Xponential Fitness vs. Hyatt Hotels | Xponential Fitness vs. Smart Share Global | Xponential Fitness vs. Sweetgreen | Xponential Fitness vs. Wyndham Hotels Resorts |
| SOCGEN vs. Sonida Senior Living | SOCGEN vs. Mangazeya Mining | SOCGEN vs. Xponential Fitness | SOCGEN vs. Evolution Mining |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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