Opendoor Technologies Correlations

OPEN Stock

USD 1.20 0.01 0.84%

The current 90-days correlation between Opendoor Technologies and eXp World Holdings is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Opendoor Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Opendoor Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Opendoor Technologies Correlation With Market

Average diversification

The correlation between Opendoor Technologies and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Opendoor Technologies 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 Opendoor Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

To learn how to invest in Opendoor Stock, please use our How to Invest in Opendoor Technologies guide.

Moving together with Opendoor Stock

0.83	RMAX	Re Max Holding	Pair Corr
0.63	PK	Park Hotels Resorts	Pair Corr
0.68	RC	Ready Capital Corp	Pair Corr
0.62	EARN	Ellington Residential	Pair Corr

Moving against Opendoor Stock

0.6	O	Realty Income	Pair Corr
0.56	DX	Dynex Capital Sell-off Trend	Pair Corr
0.52	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.52	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.51	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.49	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.46	FR	First Industrial Realty	Pair Corr
0.46	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.4	WY	Weyerhaeuser	Pair Corr
0.35	HR	Healthcare Realty Trust	Pair Corr
0.59	VICI	VICI Properties	Pair Corr
0.57	CDR-PC	Cedar Realty Trust	Pair Corr
0.56	CDR-PB	Cedar Realty Trust	Pair Corr
0.56	NREF-PA	NexPoint Real Estate	Pair Corr
0.55	MITT-PA	AG Mortgage Investment	Pair Corr
0.55	MITT-PC	AG Mortgage Investment	Pair Corr
0.54	ELME	Elme Communities	Pair Corr
0.48	WELL	Welltower	Pair Corr
0.46	FCPT	Four Corners Property	Pair Corr
0.44	FBRT	Franklin BSP Realty	Pair Corr

Related Correlations Analysis

	EXPI	OPAD	WE	RMAX	HOUS	DOMA	RDFN	REAX	SFR
EXPI		0.57	0.0	0.63	0.05	0.0	-0.07	0.1	0.0	EXPI
OPAD	0.57		0.0	0.83	-0.28	0.0	-0.31	-0.01	0.0	OPAD
WE	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	WE
RMAX	0.63	0.83	0.0		0.04	0.0	-0.2	0.31	0.0	RMAX
HOUS	0.05	-0.28	0.0	0.04		0.0	0.33	0.6	0.0	HOUS
DOMA	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	DOMA
RDFN	-0.07	-0.31	0.0	-0.2	0.33	0.0		-0.19	0.0	RDFN
REAX	0.1	-0.01	0.0	0.31	0.6	0.0	-0.19		0.0	REAX
SFR	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SFR
	EXPI	OPAD	WE	RMAX	HOUS	DOMA	RDFN	REAX	SFR

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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

RMAX	+ 0.83	OPAD
RMAX	+ 0.63	EXPI
REAX	+ 0.6	HOUS
OPAD	+ 0.57	EXPI
RDFN	+ 0.33	HOUS
REAX	+ 0.31	RMAX

High negative correlations

RDFN	- 0.31	OPAD
HOUS	- 0.28	OPAD
RDFN	- 0.2	RMAX
REAX	- 0.19	RDFN
RDFN	- 0.07	EXPI
REAX	- 0.01	OPAD

Risk-Adjusted Indicators

There is a big difference between Opendoor Stock performing well and Opendoor Technologies 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 Opendoor Technologies' 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
EXPI	2.09	(0.24)	0.00	(0.21)	0.00	0.00	3.32	(3.71)	19.88
OPAD	4.08	(0.81)	0.00	0.71	0.00	0.00	9.79	(8.20)	34.92
WE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RMAX	2.11	(0.27)	0.00	(5.77)	0.00	0.00	4.32	(3.63)	17.71
HOUS	3.22	0.25	0.07	0.30	3.67	(3.51)	6.03	(6.17)	19.40
DOMA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RDFN	4.28	0.79	0.18	0.84	4.25	(5.77)	6.45	(8.70)	70.22
REAX	2.47	(0.06)	0.00	(1.54)	0.00	0.00	4.45	(4.50)	16.53
SFR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Opendoor Technologies Corporate Management

Sydney Schaub	Chief Secretary	Profile
Amelia Generalis	Chief Officer	Profile
Kimberly Niehaus	Investor Officer	Profile
Raji Subramanian	Chief Officer	Profile
Daniel Morillo	Chief Officer	Profile

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