OPCT3F Correlations

OPCT3F Stock

9.48 0.11 1.17%

The current 90-days correlation between OPCT3F and Berkshire Hathaway is 0.07 (i.e., Significant diversification). The correlation of OPCT3F 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.

OPCT3F Correlation With Market

Poor diversification

The correlation between OPCT3F and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OPCT3F and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to OPCT3F could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OPCT3F 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 OPCT3F - 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 OPCT3F to buy it.

Moving together with OPCT3F Stock

0.82	TSMC34	Taiwan Semiconductor	Pair Corr
0.65	B1SA34	Banco Santander Chile	Pair Corr
0.64	H1SB34	HSBC Holdings plc Earnings Call This Week	Pair Corr
0.88	BCPX39	Global X Funds Split	Pair Corr

Moving against OPCT3F Stock

0.65	BERK34	Berkshire Hathaway	Pair Corr
0.63	AAPL34	Apple Inc	Pair Corr
0.53	MSFT34	Microsoft	Pair Corr

Related Correlations Analysis

	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	H1SB34	BERK34
TSMC34		-0.61	0.48	-0.43	0.66	0.71	0.67	0.19	0.71	-0.49	TSMC34
AAPL34	-0.61		-0.57	0.46	-0.63	-0.24	-0.21	-0.12	-0.53	0.71	AAPL34
BABA34	0.48	-0.57		-0.36	0.5	0.39	0.32	0.14	0.35	-0.69	BABA34
MSFT34	-0.43	0.46	-0.36		-0.75	-0.38	-0.33	0.52	-0.64	0.63	MSFT34
B1SA34	0.66	-0.63	0.5	-0.75		0.59	0.6	-0.07	0.91	-0.67	B1SA34
GOGL35	0.71	-0.24	0.39	-0.38	0.59		0.9	0.27	0.62	-0.22	GOGL35
GOGL34	0.67	-0.21	0.32	-0.33	0.6	0.9		0.3	0.64	-0.19	GOGL34
AMZO34	0.19	-0.12	0.14	0.52	-0.07	0.27	0.3		0.03	0.03	AMZO34
H1SB34	0.71	-0.53	0.35	-0.64	0.91	0.62	0.64	0.03		-0.46	H1SB34
BERK34	-0.49	0.71	-0.69	0.63	-0.67	-0.22	-0.19	0.03	-0.46		BERK34
	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	H1SB34	BERK34

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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

H1SB34	+ 0.91	B1SA34
GOGL34	+ 0.9	GOGL35
GOGL35	+ 0.71	TSMC34
H1SB34	+ 0.71	TSMC34
BERK34	+ 0.71	AAPL34
GOGL34	+ 0.67	TSMC34

High negative correlations

B1SA34	- 0.75	MSFT34
BERK34	- 0.69	BABA34
BERK34	- 0.67	B1SA34
H1SB34	- 0.64	MSFT34
B1SA34	- 0.63	AAPL34
AAPL34	- 0.61	TSMC34

Risk-Adjusted Indicators

There is a big difference between OPCT3F Stock performing well and OPCT3F 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 OPCT3F'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
TSMC34	1.66	0.16	0.06	0.37	1.75	(1.81)	3.70	(2.83)	10.38
AAPL34	1.04	(0.03)	0.00	0.25	0.00	0.00	2.67	(2.04)	5.97
BABA34	2.07	0.01	(0.03)	0.19	2.26	(2.33)	4.89	(3.49)	14.44
MSFT34	1.41	(0.37)	0.00	(1.15)	0.00	0.00	1.90	(3.82)	11.51
B1SA34	1.27	0.30	0.10	1.78	1.52	(1.57)	2.70	(2.31)	11.86
GOGL35	1.53	0.11	0.02	0.65	1.69	(1.66)	3.33	(3.02)	10.20
GOGL34	1.59	0.16	0.06	0.43	1.71	(1.73)	3.50	(2.87)	10.40
AMZO34	1.51	(0.33)	0.00	(0.76)	0.00	0.00	2.67	(3.37)	14.54
H1SB34	1.09	0.33	0.16	2.75	1.21	(1.22)	2.33	(1.83)	9.65
BERK34	0.88	0.01	(0.07)	0.24	1.08	(1.00)	1.96	(1.53)	6.40

OPCT3F Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with OPCT3F stock to make a market-neutral strategy. Peer analysis of OPCT3F could also be used in its relative valuation, which is a method of valuing OPCT3F by comparing valuation metrics with similar companies.

Taiwan Semiconductor Manufacturing Apple Inc Alibaba Group Holding Microsoft Banco Santander Chile Alphabet Alphabet Amazon Inc HSBC Holdings plc Berkshire Hathaway American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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