Opendoor Technologies Stock Market Value
| OPEN Stock | USD 1.92 0.04 2.04% |
| Symbol | Opendoor |
Opendoor Technologies Price To Book Ratio
Is Real Estate Management & Development space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Opendoor Technologies. If investors know Opendoor will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Opendoor Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.54) | Revenue Per Share 7.174 | Quarterly Revenue Growth 0.405 | Return On Assets (0.06) | Return On Equity (0.41) |
The market value of Opendoor Technologies is measured differently than its book value, which is the value of Opendoor that is recorded on the company's balance sheet. Investors also form their own opinion of Opendoor Technologies' value that differs from its market value or its book value, called intrinsic value, which is Opendoor Technologies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Opendoor Technologies' market value can be influenced by many factors that don't directly affect Opendoor Technologies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Opendoor Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Opendoor Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Opendoor Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Opendoor Technologies 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Opendoor Technologies' stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Opendoor Technologies.
| 11/15/2024 |
| 12/15/2024 |
If you would invest 0.00 in Opendoor Technologies on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding Opendoor Technologies or generate 0.0% return on investment in Opendoor Technologies over 30 days. Opendoor Technologies is related to or competes with EXp World, Offerpad Solutions, Re Max, Anywhere Real, Redfin Corp, Real Brokerage, and Ke Holdings. Opendoor Technologies Inc. operates a digital platform for residential real estate in the United States More
Opendoor Technologies Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Opendoor Technologies' stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Opendoor Technologies upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 26.03 | |||
| Value At Risk | (7.29) | |||
| Potential Upside | 6.4 |
Opendoor Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Opendoor Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Opendoor Technologies' standard deviation. In reality, there are many statistical measures that can use Opendoor Technologies historical prices to predict the future Opendoor Technologies' volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.32) | |||
| Total Risk Alpha | (0.70) | |||
| Treynor Ratio | (0.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Opendoor Technologies' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Opendoor Technologies Backtested Returns
Opendoor Technologies maintains Sharpe Ratio (i.e., Efficiency) of -0.0459, which implies the firm had a -0.0459% return per unit of risk over the last 3 months. Opendoor Technologies exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Opendoor Technologies' Coefficient Of Variation of (5,497), variance of 23.17, and insignificant Risk Adjusted Performance to confirm the risk estimate we provide. The company holds a Beta of 2.42, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Opendoor Technologies will likely underperform. At this point, Opendoor Technologies has a negative expected return of -0.22%. Please make sure to check Opendoor Technologies' maximum drawdown, as well as the relationship between the accumulation distribution and market facilitation index , to decide if Opendoor Technologies performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.78 |
Almost perfect reverse predictability
Opendoor Technologies has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Opendoor Technologies time series from 15th of November 2024 to 30th of November 2024 and 30th of November 2024 to 15th of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Opendoor Technologies price movement. The serial correlation of -0.78 indicates that around 78.0% of current Opendoor Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.78 | |
| Spearman Rank Test | -0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Opendoor Technologies lagged returns against current returns
Autocorrelation, which is Opendoor Technologies stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Opendoor Technologies' stock expected returns. We can calculate the autocorrelation of Opendoor Technologies returns to help us make a trade decision. For example, suppose you find that Opendoor Technologies has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Opendoor Technologies regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Opendoor Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Opendoor Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Opendoor Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
Opendoor Technologies Lagged Returns
When evaluating Opendoor Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Opendoor Technologies stock have on its future price. Opendoor Technologies autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Opendoor Technologies autocorrelation shows the relationship between Opendoor Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in Opendoor Technologies.
Regressed Prices |
| Timeline |
Pair Trading with Opendoor Technologies
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Opendoor Technologies position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Opendoor Technologies will appreciate offsetting losses from the drop in the long position's value.Moving against Opendoor Stock
| 0.41 | AEI | Alset Ehome International | PairCorr |
| 0.39 | RFL | Rafael Holdings Class | PairCorr |
| 0.34 | BHM | Bluerock Homes Trust | PairCorr |
The ability to find closely correlated positions to Opendoor Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Opendoor Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Opendoor Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Opendoor Technologies to buy it.
The correlation of Opendoor Technologies 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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Opendoor Technologies can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Opendoor Technologies Correlation, Opendoor Technologies Volatility and Opendoor Technologies Alpha and Beta module to complement your research on Opendoor Technologies. To learn how to invest in Opendoor Stock, please use our How to Invest in Opendoor Technologies guide.You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Opendoor Technologies technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.