Planet Fitness Correlations

PLNT Stock

USD 100.33 0.35 0.35%

The current 90-days correlation between Planet Fitness and Life Time Group is 0.36 (i.e., Weak diversification). The correlation of Planet Fitness is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Planet Fitness Correlation With Market

Modest diversification

The correlation between Planet Fitness and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Planet Fitness and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Planet Fitness. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Planet Stock please use our How to Invest in Planet Fitness guide.

Moving together with Planet Stock

0.62	XPOF	Xponential Fitness	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.73	FORD	Forward Industries	Pair Corr
0.65	CRI	Carters	Pair Corr
0.72	KTB	Kontoor Brands	Pair Corr
0.7	WWW	Wolverine World Wide	Pair Corr
0.76	PRPL	Purple Innovation	Pair Corr
0.67	ARMK	Aramark Holdings	Pair Corr

Moving against Planet Stock

0.62	HAS	Hasbro Inc	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.49	NKE	Nike Inc	Pair Corr
0.44	IGT	International Game	Pair Corr
0.35	MAT	Mattel Inc	Pair Corr
0.71	CBYDF	Corby Spirit	Pair Corr
0.64	TCTZF	Tencent Holdings Downward Rally	Pair Corr
0.61	CDUAF	Canadian Utilities	Pair Corr
0.54	TRGGF	Tarachi Gold Corp	Pair Corr
0.47	TTWO	Take Two Interactive	Pair Corr
0.39	LION	Lionsgate Studios Corp	Pair Corr
0.33	DNCVF	Defiance Silver Corp	Pair Corr
0.33	FWEDF	Fireweed Zinc	Pair Corr
0.33	RTMVF	Rightmove plc	Pair Corr
0.32	DOX	Amdocs	Pair Corr
0.32	MFON	Mobivity Holdings	Pair Corr

Related Correlations Analysis

	LTH	FXLV	BOWL	JAKK	FUN	SIX	JOUT	GOLF	MAT	SEAS
LTH		0.0	-0.78	0.43	-0.5	0.0	-0.76	-0.73	0.79	0.0	LTH
FXLV	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	FXLV
BOWL	-0.78	0.0		-0.39	0.37	0.0	0.7	0.74	-0.84	0.0	BOWL
JAKK	0.43	0.0	-0.39		0.33	0.0	0.03	-0.27	0.41	0.0	JAKK
FUN	-0.5	0.0	0.37	0.33		0.0	0.77	0.41	-0.43	0.0	FUN
SIX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SIX
JOUT	-0.76	0.0	0.7	0.03	0.77	0.0		0.72	-0.7	0.0	JOUT
GOLF	-0.73	0.0	0.74	-0.27	0.41	0.0	0.72		-0.61	0.0	GOLF
MAT	0.79	0.0	-0.84	0.41	-0.43	0.0	-0.7	-0.61		0.0	MAT
SEAS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SEAS
	LTH	FXLV	BOWL	JAKK	FUN	SIX	JOUT	GOLF	MAT	SEAS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MAT	+ 0.79	LTH
JOUT	+ 0.77	FUN
GOLF	+ 0.74	BOWL
GOLF	+ 0.72	JOUT
JOUT	+ 0.7	BOWL
JAKK	+ 0.43	LTH

High negative correlations

MAT	- 0.84	BOWL
BOWL	- 0.78	LTH
JOUT	- 0.76	LTH
GOLF	- 0.73	LTH
MAT	- 0.7	JOUT
MAT	- 0.61	GOLF

Risk-Adjusted Indicators

There is a big difference between Planet Stock performing well and Planet Fitness Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Planet Fitness' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LTH	1.68	0.51	0.19	0.61	2.24	(1.73)	3.18	(3.29)	12.68
FXLV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BOWL	2.15	0.75	0.32	1.02	1.92	(2.75)	9.50	(4.45)	11.61
JAKK	1.89	0.00	0.00	(0.07)	0.00	0.00	2.95	(3.94)	20.78
FUN	2.07	(0.21)	0.00	(0.21)	0.00	0.00	4.52	(4.95)	15.35
SIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JOUT	1.85	(0.51)	0.00	(0.81)	0.00	0.00	3.95	(4.26)	13.35
GOLF	1.47	(0.12)	0.00	(0.54)	0.00	0.00	2.78	(3.04)	11.60
MAT	1.31	0.13	0.08	0.09	1.72	(1.35)	2.20	(2.73)	19.38
SEAS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC