Oppenheimer Holdings Correlations

OPY Stock

USD 64.96 1.26 1.98%

The current 90-days correlation between Oppenheimer Holdings and PJT Partners is 0.17 (i.e., Average diversification). The correlation of Oppenheimer Holdings 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Oppenheimer Holdings Correlation With Market

Weak diversification

The correlation between Oppenheimer Holdings and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Holdings 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 Oppenheimer Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy Oppenheimer Stock please use our How to Invest in Oppenheimer Holdings guide.

Moving together with Oppenheimer Stock

0.76	AB	AllianceBernstein Normal Trading	Pair Corr
0.72	CG	Carlyle Group	Pair Corr
0.62	DB	Deutsche Bank AG	Pair Corr
0.77	RM	Regional Management Corp	Pair Corr
0.67	VIRT	Virtu Financial	Pair Corr

Moving against Oppenheimer Stock

0.51	TW	Tradeweb Markets Sell-off Trend	Pair Corr
0.46	DHIL	Diamond Hill Investment Earnings Call Today	Pair Corr
0.33	RC	Ready Capital Corp	Pair Corr
0.51	WT	WisdomTree	Pair Corr
0.39	WU	Western Union	Pair Corr
0.37	VRTS	Virtus Investment	Pair Corr

Related Correlations Analysis

	PJT	HLI	SF	EVR	PWP	SF-PC	PIPR	SF-PB	MC	NMR
PJT		0.48	0.4	0.04	0.31	0.31	0.24	0.45	0.73	0.8	PJT
HLI	0.48		0.88	0.77	0.86	0.13	0.84	0.26	0.69	0.31	HLI
SF	0.4	0.88		0.73	0.89	0.28	0.75	0.19	0.71	0.24	SF
EVR	0.04	0.77	0.73		0.76	-0.18	0.92	-0.13	0.37	-0.21	EVR
PWP	0.31	0.86	0.89	0.76		0.22	0.74	0.18	0.68	0.14	PWP
SF-PC	0.31	0.13	0.28	-0.18	0.22		-0.15	0.53	0.45	0.36	SF-PC
PIPR	0.24	0.84	0.75	0.92	0.74	-0.15		0.05	0.39	0.04	PIPR
SF-PB	0.45	0.26	0.19	-0.13	0.18	0.53	0.05		0.28	0.6	SF-PB
MC	0.73	0.69	0.71	0.37	0.68	0.45	0.39	0.28		0.48	MC
NMR	0.8	0.31	0.24	-0.21	0.14	0.36	0.04	0.6	0.48		NMR
	PJT	HLI	SF	EVR	PWP	SF-PC	PIPR	SF-PB	MC	NMR

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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

PIPR	+ 0.92	EVR
PWP	+ 0.89	SF
SF	+ 0.88	HLI
PWP	+ 0.86	HLI
PIPR	+ 0.84	HLI
NMR	+ 0.8	PJT

High negative correlations

NMR	- 0.21	EVR
SF-PC	- 0.18	EVR
PIPR	- 0.15	SF-PC
SF-PB	- 0.13	EVR

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Stock performing well and Oppenheimer Holdings 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 Oppenheimer Holdings' 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
PJT	1.55	0.00	0.00	0.01	2.21	(1.44)	3.41	(2.79)	11.57
HLI	1.19	(0.14)	0.00	(0.15)	0.00	0.00	1.98	(2.90)	7.99
SF	1.20	(0.14)	0.00	(0.12)	0.00	0.00	2.06	(3.07)	6.35
EVR	1.35	(0.32)	0.00	(0.28)	0.00	0.00	2.17	(3.46)	8.83
PWP	1.84	(0.18)	0.00	(0.15)	0.00	0.00	4.67	(3.80)	12.08
SF-PC	0.57	0.02	0.02	0.24	0.76	(0.56)	1.15	(1.34)	4.17
PIPR	1.32	(0.30)	0.00	(0.27)	0.00	0.00	2.38	(2.99)	7.52
SF-PB	0.49	0.03	0.04	0.26	0.57	(0.51)	1.30	(1.12)	2.94
MC	1.47	(0.08)	0.00	(0.07)	0.00	0.00	2.91	(3.11)	8.78
NMR	1.18	0.16	0.10	3.37	1.38	(1.32)	2.53	(2.11)	12.71

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