Correlation Between Piper Sandler and Oppenheimer Holdings
Can any of the company-specific risk be diversified away by investing in both Piper Sandler and Oppenheimer Holdings at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Piper Sandler and Oppenheimer Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Piper Sandler Companies and Oppenheimer Holdings, you can compare the effects of market volatilities on Piper Sandler and Oppenheimer Holdings and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Piper Sandler with a short position of Oppenheimer Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Piper Sandler and Oppenheimer Holdings.
Diversification Opportunities for Piper Sandler and Oppenheimer Holdings
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Piper and Oppenheimer is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Piper Sandler Companies and Oppenheimer Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oppenheimer Holdings and Piper Sandler is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Piper Sandler Companies are associated (or correlated) with Oppenheimer Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oppenheimer Holdings has no effect on the direction of Piper Sandler i.e., Piper Sandler and Oppenheimer Holdings go up and down completely randomly.
Pair Corralation between Piper Sandler and Oppenheimer Holdings
Given the investment horizon of 90 days Piper Sandler Companies is expected to generate 1.01 times more return on investment than Oppenheimer Holdings. However, Piper Sandler is 1.01 times more volatile than Oppenheimer Holdings. It trades about 0.01 of its potential returns per unit of risk. Oppenheimer Holdings is currently generating about -0.04 per unit of risk. If you would invest 32,032 in Piper Sandler Companies on August 4, 2025 and sell it today you would lose (106.00) from holding Piper Sandler Companies or give up 0.33% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Piper Sandler Companies vs. Oppenheimer Holdings
Performance |
| Timeline |
| Piper Sandler Companies |
| Oppenheimer Holdings |
Piper Sandler and Oppenheimer Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Piper Sandler and Oppenheimer Holdings
The main advantage of trading using opposite Piper Sandler and Oppenheimer Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Piper Sandler position performs unexpectedly, Oppenheimer Holdings 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 Oppenheimer Holdings will offset losses from the drop in Oppenheimer Holdings' long position.| Piper Sandler vs. MarketAxess Holdings | Piper Sandler vs. Hut 8 Corp | Piper Sandler vs. Moelis Co | Piper Sandler vs. Terawulf |
| Oppenheimer Holdings vs. Up Fintech Holding | Oppenheimer Holdings vs. DeFi Technologies | Oppenheimer Holdings vs. Amark Preci | Oppenheimer Holdings vs. BitFuFu Class A |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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