Redfin Corp Correlations

RDFN Stock

USD 11.36 0.35 3.18%

The current 90-days correlation between Redfin Corp and Offerpad Solutions is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Redfin Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Redfin Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Redfin Corp Correlation With Market

Good diversification

The correlation between Redfin Corp and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redfin Corp 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 Redfin Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

To learn how to invest in Redfin Stock, please use our How to Invest in Redfin Corp guide.

Moving against Redfin Stock

0.54	KW	Kennedy Wilson Holdings	Pair Corr
0.46	UE	Urban Edge Properties	Pair Corr
0.4	FRPH	Frp Holdings Ord	Pair Corr
0.36	PK	Park Hotels Resorts	Pair Corr
0.64	EARN	Ellington Residential	Pair Corr
0.55	AHH	Armada Hflr Pr	Pair Corr
0.45	ESBA	Empire State Realty	Pair Corr
0.43	FISK	Empire State Realty Potential Growth	Pair Corr
0.4	AKR	Acadia Realty Trust	Pair Corr
0.39	ESRT	Empire State Realty	Pair Corr
0.37	AAT	American Assets Trust	Pair Corr
0.32	EQIX	Equinix	Pair Corr

Related Correlations Analysis

	OPAD	WE	EXPI	OMH	REAX	OPEN	RMAX	HOUS	DOMA
OPAD		0.0	0.92	0.66	0.07	0.34	0.44	0.02	0.0	OPAD
WE	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	WE
EXPI	0.92	0.0		0.73	0.25	0.38	0.55	0.11	0.0	EXPI
OMH	0.66	0.0	0.73		0.21	0.61	0.6	-0.15	0.0	OMH
REAX	0.07	0.0	0.25	0.21		0.03	0.09	0.61	0.0	REAX
OPEN	0.34	0.0	0.38	0.61	0.03		0.84	-0.04	0.0	OPEN
RMAX	0.44	0.0	0.55	0.6	0.09	0.84		0.08	0.0	RMAX
HOUS	0.02	0.0	0.11	-0.15	0.61	-0.04	0.08		0.0	HOUS
DOMA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		DOMA
	OPAD	WE	EXPI	OMH	REAX	OPEN	RMAX	HOUS	DOMA

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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	+ 0.92	OPAD
RMAX	+ 0.84	OPEN
OMH	+ 0.73	EXPI
OMH	+ 0.66	OPAD
OPEN	+ 0.61	OMH
HOUS	+ 0.61	REAX

High negative correlations

HOUS	- 0.15	OMH
HOUS	- 0.04	OPEN
DOMA	- 0.0	HOUS
DOMA	- 0.0	RMAX
DOMA	- 0.0	OPEN
DOMA	- 0.0	REAX

Risk-Adjusted Indicators

There is a big difference between Redfin Stock performing well and Redfin Corp 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 Redfin Corp'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
OPAD	4.14	(1.02)	0.00	(0.67)	0.00	0.00	9.79	(8.23)	34.92
WE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EXPI	2.02	(0.25)	0.00	(0.26)	0.00	0.00	3.30	(3.71)	19.88
OMH	4.10	(0.56)	0.00	(3.41)	0.00	0.00	7.14	(10.00)	50.48
REAX	2.53	(0.10)	0.00	(0.14)	0.00	0.00	4.45	(4.56)	16.53
OPEN	3.48	(0.48)	0.00	(1.82)	0.00	0.00	6.52	(7.14)	19.92
RMAX	2.08	(0.30)	0.00	1.83	0.00	0.00	4.32	(3.63)	17.71
HOUS	3.07	0.23	0.07	0.29	3.51	(3.37)	6.03	(5.65)	19.40
DOMA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Redfin Corp Corporate Management

Jonathan Ziglar	LLC RentPath	Profile
Jason Aleem	Chief Services	Profile
Christian Taubman	Chief Officer	Profile
Anna Stevens	Chief Officer	Profile
Bridget Frey	Chief Officer	Profile
Daryl Fairweather	Chief Economist	Profile

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