Opera Correlations

OPRA Stock

USD 17.81 0.10 0.56%

The current 90-days correlation between Opera and Yelp Inc is 0.3 (i.e., Weak diversification). The correlation of Opera 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.

Opera Correlation With Market

Weak diversification

The correlation between Opera and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Opera 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 Opera. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Opera Stock

0.71	MAX	MediaAlpha	Pair Corr
0.62	KIND	Nextdoor Holdings	Pair Corr
0.65	META	Meta Platforms Sell-off Trend	Pair Corr
0.67	NBIS	Nebius Group NV Symbol Change	Pair Corr

Moving against Opera Stock

0.39

CCG

Cheche Group Class

Pair Corr

Related Correlations Analysis

	JFIN	TWLO	YELP	FVRR	ONFO	LTRPB	SEAT	EVER	ASST	MAX
JFIN		0.21	-0.56	-0.67	-0.35	0.0	-0.01	0.76	0.18	-0.22	JFIN
TWLO	0.21		0.43	0.15	-0.13	0.0	0.43	0.01	0.39	0.54	TWLO
YELP	-0.56	0.43		0.88	0.27	0.0	0.29	-0.77	0.21	0.77	YELP
FVRR	-0.67	0.15	0.88		0.5	0.0	0.11	-0.84	0.03	0.71	FVRR
ONFO	-0.35	-0.13	0.27	0.5		0.0	-0.42	-0.45	-0.26	0.34	ONFO
LTRPB	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	LTRPB
SEAT	-0.01	0.43	0.29	0.11	-0.42	0.0		-0.13	0.38	0.37	SEAT
EVER	0.76	0.01	-0.77	-0.84	-0.45	0.0	-0.13		-0.07	-0.6	EVER
ASST	0.18	0.39	0.21	0.03	-0.26	0.0	0.38	-0.07		0.16	ASST
MAX	-0.22	0.54	0.77	0.71	0.34	0.0	0.37	-0.6	0.16		MAX
	JFIN	TWLO	YELP	FVRR	ONFO	LTRPB	SEAT	EVER	ASST	MAX

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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

FVRR	+ 0.88	YELP
MAX	+ 0.77	YELP
EVER	+ 0.76	JFIN
MAX	+ 0.71	FVRR
MAX	+ 0.54	TWLO
ONFO	+ 0.5	FVRR

High negative correlations

EVER	- 0.84	FVRR
EVER	- 0.77	YELP
FVRR	- 0.67	JFIN
MAX	- 0.6	EVER
YELP	- 0.56	JFIN
EVER	- 0.45	ONFO

Risk-Adjusted Indicators

There is a big difference between Opera Stock performing well and Opera 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 Opera's 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
JFIN	4.40	1.32	0.17	0.99	5.99	(4.71)	13.37	(6.88)	47.71
TWLO	2.51	0.04	0.00	(0.08)	0.00	0.00	4.20	(6.81)	35.14
YELP	1.43	(0.05)	0.00	(0.17)	0.00	0.00	2.93	(3.56)	11.91
FVRR	2.30	(0.34)	0.00	(0.46)	0.00	0.00	4.54	(6.69)	14.07
ONFO	3.74	(0.13)	0.00	(0.19)	0.00	0.00	7.69	(7.27)	21.57
LTRPB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SEAT	2.78	(0.16)	0.00	2.87	0.00	0.00	5.34	(4.31)	42.87
EVER	2.95	0.86	0.30	0.34	2.12	(3.84)	7.67	(4.16)	32.47
ASST	11.16	1.77	0.15	0.72	9.45	(19.08)	43.64	(18.84)	125.77
MAX	2.87	(0.09)	0.00	(0.25)	0.00	0.00	6.16	(6.38)	27.25

Opera Corporate Management

Julia Szyndzielorz	Senior Manager	Profile
Matthew Wolfson	Head Relations	Profile
Per Wetterdal	Executive Commercial	Profile
Yahui Zhou	Chairman CoCEO	Profile
Lin Song	CoChief Officer	Profile
Frode Jacobsen	Chief Officer	Profile
Aaron McParlan	General Counsel	Profile

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