Oppenheimer Holdings Correlations

OPY Stock

USD 60.92 0.26 0.42%

The current 90-days correlation between Oppenheimer Holdings and PJT Partners is 0.37 (i.e., Weak 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

Very weak diversification

The correlation between Oppenheimer Holdings and DJI is 0.5 (i.e., Very 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	BN	Brookfield Corp	Pair Corr
0.72	BX	Blackstone Group	Pair Corr
0.85	CG	Carlyle Group	Pair Corr
0.74	GS	Goldman Sachs Group	Pair Corr
0.74	MC	Moelis	Pair Corr
0.81	MS	Morgan Stanley	Pair Corr
0.79	PX	P10 Inc	Pair Corr
0.82	RM	Regional Management Corp	Pair Corr
0.88	SF	Stifel Financial	Pair Corr
0.83	AMP	Ameriprise Financial	Pair Corr
0.84	AXP	American Express	Pair Corr

Moving against Oppenheimer Stock

0.41	LU	Lufax Holding	Pair Corr
0.58	TW	Tradeweb Markets	Pair Corr
0.47	WU	Western Union	Pair Corr
0.34	ARI	Apollo Commercial Real	Pair Corr
0.5	PFX	Phenixfin	Pair Corr

Related Correlations Analysis

	PJT	HLI	SF	EVR	PWP	SF-PC	PIPR	SF-PB	MC	NMR
PJT		0.86	0.8	0.74	0.79	0.36	0.85	-0.1	0.88	0.32	PJT
HLI	0.86		0.94	0.89	0.94	0.42	0.93	-0.2	0.95	0.09	HLI
SF	0.8	0.94		0.89	0.95	0.5	0.91	-0.25	0.94	0.03	SF
EVR	0.74	0.89	0.89		0.94	0.19	0.96	-0.5	0.95	-0.29	EVR
PWP	0.79	0.94	0.95	0.94		0.37	0.95	-0.31	0.96	-0.09	PWP
SF-PC	0.36	0.42	0.5	0.19	0.37		0.23	0.3	0.36	0.38	SF-PC
PIPR	0.85	0.93	0.91	0.96	0.95	0.23		-0.4	0.96	-0.09	PIPR
SF-PB	-0.1	-0.2	-0.25	-0.5	-0.31	0.3	-0.4		-0.34	0.69	SF-PB
MC	0.88	0.95	0.94	0.95	0.96	0.36	0.96	-0.34		-0.05	MC
NMR	0.32	0.09	0.03	-0.29	-0.09	0.38	-0.09	0.69	-0.05		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	+ 0.96	EVR
MC	+ 0.96	PWP
MC	+ 0.96	PIPR
MC	+ 0.95	HLI
PWP	+ 0.95	SF
MC	+ 0.95	EVR

High negative correlations

SF-PB	- 0.5	EVR
SF-PB	- 0.4	PIPR
MC	- 0.34	SF-PB
SF-PB	- 0.31	PWP
NMR	- 0.29	EVR
SF-PB	- 0.25	SF

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	1.57	(0.10)	0.00	(0.15)	0.00	0.00	3.24	(2.79)	11.57
HLI	1.33	(0.06)	0.00	(0.12)	0.00	0.00	1.98	(3.01)	8.89
SF	1.52	(0.07)	0.00	(0.12)	0.00	0.00	2.48	(4.04)	7.51
EVR	1.86	(0.41)	0.00	(0.32)	0.00	0.00	2.33	(5.48)	11.75
PWP	2.18	(0.20)	0.00	(0.20)	0.00	0.00	4.67	(5.26)	14.41
SF-PC	0.56	0.04	0.12	0.28	0.71	(0.55)	1.17	(1.29)	3.91
PIPR	1.59	(0.20)	0.00	(0.22)	0.00	0.00	2.82	(3.91)	9.43
SF-PB	0.51	0.04	0.15	0.17	0.59	(0.55)	1.28	(1.10)	2.90
MC	1.67	(0.18)	0.00	(0.19)	0.00	0.00	2.78	(4.40)	8.78
NMR	1.29	0.25	0.12	0.13	1.62	(1.39)	3.07	(3.04)	12.71

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