February 7, 2024 – Should you be checking your horoscope while you check your portfolio this Valentine’s Day? Maybe, according to data from trading and investing platform eToro. A review of retail investor habits assessing risk, average asset holding time and portfolio diversification revealed trends unique to each star sign.
eToro found that Scorpios are the most cautious retail investors, while ambitious Capricorns embrace risk while investing in hopes of bigger portfolio rewards. Although opposites in risk appetite, these signs indicate a high level of romantic compatibility and are known to enhance one another’s positive attributes in relationships. The data also found traditionally loyal Virgos and sentimental Cancers are less diversified as they’re likely to commit to fewer and invest in more traditional assets.
Commenting on the data, eToro US Analyst Bret Kenwell said: “When analyzing investor behavior in today’s market, it’s crucial to consider external factors influencing how investors make decisions and how that might play out in their interpersonal relationships. No matter your stance on astrology, this glimpse into investor behavior is a reminder to include financial goals, risk appetite, and personal experiences when examining behavioral impacts on the markets and macro-economic factors.”
Although maintaining the second-lowest low risk score, Libras lean into portfolio diversification, implying the indecisive yet fair-minded investors prefer to play it safe in the markets. Fellow air sign Gemini, known for curiosity and impatience, take the opposite approach to risk, ranking third vs. Libra’s eleventh. In terms of duration, the inherent fire of Aries endures with the longest asset hold time. On the other end, infamously tenacious Capricorns hold assets for the shortest time.
Kenwell adds: “Whether a risk-taking Capricorn or a memestock enthusiast Cancer, investors should look for opportunities to diversify their portfolios in a way that matches their goals and financial interests – and ensure their financial approach and risk tolerance is well-aligned with their partner’s approach. Portfolio success isn’t written in the stars – it takes practice!”
To identify the zodiac signs’ unique investing behaviors, eToro segmented its global users by star sign before ranking them across various metrics (table 1) including: risk score, level of diversification (number of different assets in their portfolio) and ‘hold time’ (length of time before an asset is sold).
Table 1 shows how zodiac signs rank on eToro across various investing metrics
| Rank | eToro risk Score
(high to low) |
Average time holding an asset
(long to short) |
Diversification
(more to less) |
| 1 | Capricorn | Aries | Capricorn |
| 2 | Leo | Cancer | Scorpio |
| 3 | Gemini | Scorpio | Gemini |
| 4 | Cancer | Gemini | Libra |
| 5 | Pisces | Virgo | Sagittarius |
| 6 | Aries | Sagittarius | Pisces |
| 7 | Aquarius | Pisces | Taurus |
| 8 | Virgo | Aquarius | Leo |
| 9 | Taurus | Taurus | Aquarius |
| 10 | Sagittarius | Leo | Aries |
| 11 | Libra | Libra | Cancer |
| 12 | Scorpio | Capricorn | Virgo |
Additionally, eToro assessed which stocks are favorites for each of the star signs (Table 2) by looking at the companies each zodiac sign is most likely to over-index on. The data shows that fiery Leos are over-indexing on electrical companies such as Cenntro Electric Group and Plug Power. Meanwhile, wise and imaginative, Pisces investors are bullish on companies transporting them to new places like Volkswagen and easyJet – just like dependable, yet detached Aquarius over-indexes on automotive stocks.
Table 2 shows which stocks each sign of the zodiac is most likely to over-index on
| Star Sign | Most over-indexed* stocks include: |
| Capricorn | Ocugen, Asensus Surgical |
| Aquarius | Rolls-Royce, Rivian Automotive |
| Pisces | Volkswagen, easyJet |
| Aries | Aurora Cannabis, Xiaomi Corp |
| Taurus | Lufthansa, Pfizer |
| Gemini | Intel, Shopify |
| Cancer | GameStop, Nio |
| Leo | Cenntro Electric Group, Plug Power |
| Virgo | Block, Berkshire Hathaway |
| Libra | LVMH, Walt Disney |
| Scorpio | Beyond Meat, Airbnb |
| Sagittarius | Netflix, McDonald’s |
Star signs and their investing traits
Aries (Mar 21-April 19)
Traits: Quick, competitive, insecure
Investing risk score: Medium
Diversification: Low
More likely to invest in: Aurora Cannabis, Xiaomi Corp
Taurus (Apr 20 – May 20)
Traits: Loyal, dependable, stubborn
Investing risk score: Medium
Diversification: Medium
More likely to invest in: Lufthansa, Pfizer
Gemini (May 21 – Jun 20)
Traits: Versatile, curious, impatient
Investing risk score: High
Diversification: High
More likely to invest in: Intel, Shopify
Cancer (Jun 21 – Jul 22)
Traits: Passionate, sentimental, uncommunicative
Investing risk score: High
Diversification: Low
More likely to invest in: GameStop, Nio
Leo (Jul 23 – Aug 22)
Traits: Confident, fiery, dominating
Investing risk score: High
Diversification: Medium
More likely to invest in: Cenntro Electric Group, Plug Power
Virgo (Aug 23 – Sep 22)
Traits: Loyal, analytical, self-doubting
Investing risk score: Medium
Diversification: Low
More likely to invest in: Block, Berkshire Hathaway
Libra (Sep 23 – Oct 22)
Traits: Fair-minded, gracious, indecisive
Investing risk score: Low
Diversification: Medium
More likely to invest in:LVMH, Walt Disney
Scorpio (Oc 23 – Nov 21)
Traits: Compassionate, intense, secretive
Investing risk score: Low
Diversification: High
More likely to invest in: Beyond Meat, Airbnb
Sagittarius (Nov 22 – Dec 21)
Traits: Extroverted, optimistic, flighty
Investing risk score: Low
Diversification: Medium
More likely to invest in:Netflix, McDonald’s
Capricorn (Dec 22 – Jan 19)
Traits: Goal-oriented, tenacious, unforgiving
Investing risk score: High
Diversification: High
More likely to invest in: Ocugen, Asensus Surgical
Aquarius (Jan 20 – Feb 18)
Traits: Strong, dependable, detached
Investing risk score: Medium
Diversification: Medium
More likely to invest in: Rolls-Royce, Rivian Automotive
Pisces (Feb 19 – Mar 20)
Traits: Affectionate, wise, over-sensitive
Investing risk score: Medium
Diversification: Medium
More likely to invest in: Volkswagen, easyJet
ENDS
Notes to editors
About this data
This data was taken from the eToro platform on 4th October 2023.
*What do we mean by most over-indexed stock?
Most over-indexed stocks: For each star sign, eToro picked from the top six stocks with the maximum deviation between the star sign stock-holder percentage (i.e. the proportion of the zodiac that is currently invested in the stock) and the global stock-holder percentage, among the top 50 stocks.
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