Correlation Between Planet Fitness and Intel
Can any of the company-specific risk be diversified away by investing in both Planet Fitness and Intel at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Planet Fitness and Intel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Planet Fitness and Intel, you can compare the effects of market volatilities on Planet Fitness and Intel 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 Planet Fitness with a short position of Intel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Planet Fitness and Intel.
Diversification Opportunities for Planet Fitness and Intel
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Planet and Intel is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Planet Fitness and Intel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intel and Planet 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 Planet Fitness are associated (or correlated) with Intel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intel has no effect on the direction of Planet Fitness i.e., Planet Fitness and Intel go up and down completely randomly.
Pair Corralation between Planet Fitness and Intel
Given the investment horizon of 90 days Planet Fitness is expected to generate 0.62 times more return on investment than Intel. However, Planet Fitness is 1.6 times less risky than Intel. It trades about 0.06 of its potential returns per unit of risk. Intel is currently generating about -0.01 per unit of risk. If you would invest 5,980 in Planet Fitness on June 5, 2025 and sell it today you would earn a total of 4,164 from holding Planet Fitness or generate 69.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Planet Fitness vs. Intel
Performance |
| Timeline |
| Planet Fitness |
| Intel |
Planet Fitness and Intel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Planet Fitness and Intel
The main advantage of trading using opposite Planet Fitness and Intel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Planet Fitness position performs unexpectedly, Intel 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 Intel will offset losses from the drop in Intel's long position.| Planet Fitness vs. Five Below | Planet Fitness vs. Six Flags Entertainment | Planet Fitness vs. Life Time Group | Planet Fitness vs. Mattel Inc |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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