Opendoor Technologies Correlations

Opendoor Technologies Correlation With Market

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Opendoor Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income. To learn how to invest in Opendoor Stock, please use our How to Invest in Opendoor Technologies guide.

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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    RMAX + 0.73 EXPI RDFN + 0.68 HOUS SFR + 0.63 WE HOUS + 0.62 OPAD WE + 0.55 OPAD REAX + 0.55 WE

High negative correlations    SFR - 0.58 EXPI SFR - 0.42 RMAX RDFN - 0.41 DOMA DOMA - 0.41 HOUS RMAX - 0.25 WE WE - 0.21 EXPI

Risk-Adjusted Indicators

There is a big difference between Opendoor Stock performing well and Opendoor Technologies 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 Opendoor Technologies' 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.