Scorpios are the most cautious retail investors while traditionally tenacious Capricorns have the greatest risk appetite, according to data from the trading and investing platform eToro.
eToro segmented all of its global users by the signs of the zodiac before ranking them across different metrics (table 1) such as risk score, level of diversification (measured by how many different assets they hold) and ‘hold time’ (length of time before an asset is sold).
Scorpios, whose traits are said to include being intense and secretive, had the lowest risk score on the eToro platform. The eToro risk score is calculated using a number of metrics, such as the volatility of assets that a person holds in their portfolio. Libras, supposedly fair-minded but indecisive, also take a fairly cautious approach to investing, according to the data, ranking second lowest on risk score.
At the other end of the spectrum, Capricorns, renowned for being confident and driven, had the highest risk score on eToro, with traditionally fiery Leos just behind them.
Commenting on the data, eToro’s Ben Laidler said: “This financial astrology may seem like some fun pseudo-science but it is a real reminder that investors are human and that behavioural factors can be as important in markets as the macro-economic and company profit fundamentals.
“The data is also a reminder that each of us takes a slightly different approach to investing based on our goals, our risk appetite and the asset classes and sectors that we are most knowledgeable about. What’s important though is to ensure that you’re well diversified. Whether you’re a cautious Scorpio or a more adventurous Capricorn, having a balanced portfolio and making sure that you’re not putting all your eggs in one basket will always stand you in good stead.”
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 |
Despite having a higher risk appetite, when it comes to diversification, goal-oriented Capricorns scored well, coming top of the table, with Scorpios just behind them. Meanwhile traditionally loyal Virgos are less diversified as they are more likely to stick to fewer assets in their portfolio, as are typically sentimental Cancers.
eToro also assessed which stocks are particular favourites across the signs of the zodiac (Table 2) by looking at the companies that each star sign is most likely to over-index on. The data shows that compassionate Scorpios favour vegan stock Beyond Meat more than any other star sign, despite the firm’s poor share price performance over the last year. Meanwhile, analytical Virgos are most likely to over-index on financial services stocks Block and Berkshire Hathaway, while Libras over-index on luxury fashion stock LVMH.
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 21)
Traits: Versatile, curious, impatient
Investing risk score: High
Diversification: High
More likely to invest in: Intel, Shopify
Cancer (Jun 22 – 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 23)
Traits: Fair-minded, gracious, indecisive
Investing risk score: Low
Diversification: Medium
More likely to invest in:LVMH, Walt Disney
Scorpio (Oct 24 – 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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