Correlation Between Xponential Fitness and 85855CAA8
Specify exactly 2 symbols:
By analyzing existing cross correlation between Xponential Fitness and STLA 1711 29 JAN 27, you can compare the effects of market volatilities on Xponential Fitness and 85855CAA8 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 85855CAA8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xponential Fitness and 85855CAA8.
Diversification Opportunities for Xponential Fitness and 85855CAA8
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Xponential and 85855CAA8 is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Xponential Fitness and STLA 1711 29 JAN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STLA 1711 29 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 85855CAA8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STLA 1711 29 has no effect on the direction of Xponential Fitness i.e., Xponential Fitness and 85855CAA8 go up and down completely randomly.
Pair Corralation between Xponential Fitness and 85855CAA8
Given the investment horizon of 90 days Xponential Fitness is expected to generate 1.58 times more return on investment than 85855CAA8. However, Xponential Fitness is 1.58 times more volatile than STLA 1711 29 JAN 27. It trades about -0.12 of its potential returns per unit of risk. STLA 1711 29 JAN 27 is currently generating about -0.24 per unit of risk. If you would invest 1,581 in Xponential Fitness on September 12, 2024 and sell it today you would lose (123.00) from holding Xponential Fitness or give up 7.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 66.67% |
| Values | Daily Returns |
Xponential Fitness vs. STLA 1711 29 JAN 27
Performance |
| Timeline |
| Xponential Fitness |
| STLA 1711 29 |
Xponential Fitness and 85855CAA8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xponential Fitness and 85855CAA8
The main advantage of trading using opposite Xponential Fitness and 85855CAA8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xponential Fitness position performs unexpectedly, 85855CAA8 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 85855CAA8 will offset losses from the drop in 85855CAA8's long position.| Xponential Fitness vs. Planet Fitness | Xponential Fitness vs. Bowlero Corp | Xponential Fitness vs. JAKKS Pacific | Xponential Fitness vs. Acushnet Holdings Corp |
| 85855CAA8 vs. Aegon NV ADR | 85855CAA8 vs. Comstock Holding Companies | 85855CAA8 vs. Xponential Fitness | 85855CAA8 vs. Playtech plc |
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.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |