Offerpad Solutions Correlations

OPAD Stock

USD 1.84 0.04 2.22%

The current 90-days correlation between Offerpad Solutions and Marcus Millichap is 0.28 (i.e., Modest diversification). The correlation of Offerpad Solutions 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.

Offerpad Solutions Correlation With Market

Modest diversification

The correlation between Offerpad Solutions and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Offerpad Solutions 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 Offerpad Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For information on how to trade Offerpad Stock refer to our How to Trade Offerpad Stock guide.

Moving together with Offerpad Stock

0.71	CWK	Cushman Wakefield plc	Pair Corr
0.74	FSV	FirstService Corp	Pair Corr
0.87	RMAX	Re Max Holding	Pair Corr
0.63	CIGI	Colliers International	Pair Corr
0.62	KW	Kennedy Wilson Holdings	Pair Corr
0.65	OZ	Belpointe PREP LLC	Pair Corr
0.88	PK	Park Hotels Resorts	Pair Corr
0.72	RC	Ready Capital Corp	Pair Corr
0.76	UE	Urban Edge Properties	Pair Corr

Moving against Offerpad Stock

0.91	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.88	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.84	DX	Dynex Capital	Pair Corr
0.84	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.83	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.83	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.75	FR	First Industrial Realty	Pair Corr
0.74	O	Realty Income	Pair Corr
0.59	WY	Weyerhaeuser	Pair Corr
0.88	CDR-PC	Cedar Realty Trust	Pair Corr
0.86	MITT-PC	AG Mortgage Investment	Pair Corr
0.81	WELL	Welltower	Pair Corr
0.73	CDR-PB	Cedar Realty Trust	Pair Corr
0.72	VICI	VICI Properties	Pair Corr
0.71	FBRT	Franklin BSP Realty	Pair Corr
0.69	MITT-PA	AG Mortgage Investment	Pair Corr
0.65	MITT-PB	AG Mortgage Investment	Pair Corr
0.64	NREF-PA	NexPoint Real Estate	Pair Corr
0.61	ELME	Elme Communities	Pair Corr

Related Correlations Analysis

	RMAX	MMI	FRPH	MLP	MAYS	RDFN	WE	EXPI	OMH	HOUS
RMAX		0.49	0.45	0.83	-0.3	-0.08	0.0	0.96	0.76	0.33	RMAX
MMI	0.49		0.78	0.63	-0.33	-0.33	0.0	0.48	0.42	0.62	MMI
FRPH	0.45	0.78		0.53	-0.14	-0.54	0.0	0.43	0.54	0.46	FRPH
MLP	0.83	0.63	0.53		-0.18	-0.35	0.0	0.85	0.75	0.18	MLP
MAYS	-0.3	-0.33	-0.14	-0.18		-0.16	0.0	-0.28	0.0	-0.55	MAYS
RDFN	-0.08	-0.33	-0.54	-0.35	-0.16		0.0	-0.18	-0.47	0.29	RDFN
WE	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	WE
EXPI	0.96	0.48	0.43	0.85	-0.28	-0.18	0.0		0.75	0.25	EXPI
OMH	0.76	0.42	0.54	0.75	0.0	-0.47	0.0	0.75		-0.03	OMH
HOUS	0.33	0.62	0.46	0.18	-0.55	0.29	0.0	0.25	-0.03		HOUS
	RMAX	MMI	FRPH	MLP	MAYS	RDFN	WE	EXPI	OMH	HOUS

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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

EXPI	+ 0.96	RMAX
EXPI	+ 0.85	MLP
MLP	+ 0.83	RMAX
FRPH	+ 0.78	MMI
OMH	+ 0.76	RMAX
OMH	+ 0.75	MLP

High negative correlations

HOUS	- 0.55	MAYS
RDFN	- 0.54	FRPH
OMH	- 0.47	RDFN
RDFN	- 0.35	MLP
RDFN	- 0.33	MMI
MAYS	- 0.33	MMI

Risk-Adjusted Indicators

There is a big difference between Offerpad Stock performing well and Offerpad Solutions 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 Offerpad Solutions' 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
RMAX	2.18	(0.33)	0.00	(0.32)	0.00	0.00	4.32	(3.69)	17.71
MMI	1.62	(0.09)	0.00	(0.15)	0.00	0.00	2.94	(3.82)	10.27
FRPH	1.10	(0.11)	0.00	(0.21)	0.00	0.00	1.81	(3.61)	7.96
MLP	1.76	(0.23)	0.00	(0.30)	0.00	0.00	4.19	(3.61)	13.66
MAYS	1.11	(0.15)	0.00	(3.34)	0.00	0.00	3.24	(3.61)	16.26
RDFN	4.21	0.54	0.15	(0.48)	4.44	(5.25)	6.45	(8.83)	69.65
WE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EXPI	2.04	(0.26)	0.00	(0.26)	0.00	0.00	3.30	(3.71)	19.88
OMH	4.24	(0.53)	0.00	(3.02)	0.00	0.00	7.56	(10.00)	50.48
HOUS	3.24	(0.05)	0.00	(0.10)	0.00	0.00	6.03	(7.40)	19.40

Offerpad Solutions Corporate Management

Hiten Patel	Controller VP	Profile
Vaughn Bair	Chief Officer	Profile
Stjepan Rajko	Vice Technology	Profile
Stefanie Layton	Director Relations	Profile
James Grout	Senior Relations	Profile
Stephen Johnson	Chief Officer	Profile
Ted Best	Senior Management	Profile

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