Rivernorthdoubleline Strategic Opportunity Etf Fundamentals
| OPP Etf | USD 8.57 0.05 0.59% |
RiverNorthDoubleLine Strategic Opportunity fundamentals help investors to digest information that contributes to RiverNorthDoubleLine's financial success or failures. It also enables traders to predict the movement of RiverNorthDoubleLine Etf. The fundamental analysis module provides a way to measure RiverNorthDoubleLine's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to RiverNorthDoubleLine etf.
RiverNorthDoubleLine |
RiverNorthDoubleLine Strategic Opportunity ETF Price To Earning Analysis
RiverNorthDoubleLine's Price to Earnings ratio is typically used for current valuation of a company and is one of the most popular ratios that investors monitor daily. Holding a low PE stock is less risky because when a company's profitability falls, it is likely that earnings will also go down as well. In other words, if you start from a lower position, your downside risk is limited. There are also some investors who believe that low Price to Earnings ratio reflects the low pricing because a given company is in trouble. On the other hand, a higher PE ratio means that investors are paying more for each unit of profit.
Current RiverNorthDoubleLine Price To Earning | 6.11 X |
Most of RiverNorthDoubleLine's fundamental indicators, such as Price To Earning, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, RiverNorthDoubleLine Strategic Opportunity is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Generally speaking, the Price to Earnings ratio gives investors an idea of what the market is willing to pay for the company's current earnings.
| Competition |
Based on the latest financial disclosure, RiverNorthDoubleLine Strategic Opportunity has a Price To Earning of 6.11 times. This is much higher than that of the Financial Services family and significantly higher than that of the Asset Management category. The price to earning for all United States etfs is notably lower than that of the firm.
RiverNorthDoubleLine Fundamental Drivers Relationships
Comparative valuation techniques use various fundamental indicators to help in determining RiverNorthDoubleLine's current stock value. Our valuation model uses many indicators to compare RiverNorthDoubleLine value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across RiverNorthDoubleLine competition to find correlations between indicators driving RiverNorthDoubleLine's intrinsic value. More Info.RiverNorthDoubleLine Strategic Opportunity is rated below average in price to earning as compared to similar ETFs. It also is rated below average in beta as compared to similar ETFs totaling about 0.01 of Beta per Price To Earning. The ratio of Price To Earning to Beta for RiverNorthDoubleLine Strategic Opportunity is roughly 67.89 . Comparative valuation analysis is a catch-all technique that is used if you cannot value RiverNorthDoubleLine by discounting back its dividends or cash flows. It compares the stock's price multiples to nearest competition to determine if the stock is relatively undervalued or overvalued.RiverNorthDoubleLine Price To Earning Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses RiverNorthDoubleLine's direct or indirect competition against its Price To Earning to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of RiverNorthDoubleLine could also be used in its relative valuation, which is a method of valuing RiverNorthDoubleLine by comparing valuation metrics of similar companies.RiverNorthDoubleLine is currently under evaluation in price to earning as compared to similar ETFs.
RiverNorthDoubleLine Fundamentals
| Shares Outstanding | 19.22 M | ||||
| Shares Owned By Institutions | 29.15 % | ||||
| Number Of Shares Shorted | 20.44 K | ||||
| Price To Earning | 6.11 X | ||||
| Short Ratio | 0.12 X | ||||
| Earnings Per Share | 1.42 X | ||||
| Beta | 0.09 | ||||
| Market Capitalization | 165.57 M | ||||
| Annual Yield | 0.01 % | ||||
| Year To Date Return | 9.53 % | ||||
| One Year Return | 13.17 % | ||||
| Three Year Return | (0.55) % | ||||
| Five Year Return | 1.11 % | ||||
| Last Dividend Paid | 1.77 |
About RiverNorthDoubleLine Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze RiverNorthDoubleLine Strategic Opportunity's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of RiverNorthDoubleLine using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of RiverNorthDoubleLine Strategic Opportunity based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.RiverNorthDoubleLine Strategic Opportunity Fund, Inc. is a closed ended fixed income mutual fund launched and managed by RiverNorth Capital Management, LLC. The fund is co-managed by DoubleLine Capital LP. It invests in fixed income markets. The fund seeks to benchmark the performance of its portfolio against the Barclays Capital U.S. Aggregate Bond Index. RiverNorthDoubleLine Strategic Opportunity Fund, Inc. was formed on December 30, 2010 and is domiciled in the United States.
Pair Trading with RiverNorthDoubleLine
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 RiverNorthDoubleLine 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 RiverNorthDoubleLine will appreciate offsetting losses from the drop in the long position's value.Moving together with RiverNorthDoubleLine Etf
| 0.63 | PMBS | PIMCO Mortgage Backed | PairCorr |
| 0.79 | PFFL | ETRACS 2xMonthly Pay | PairCorr |
| 0.8 | YCL | ProShares Ultra Yen | PairCorr |
Moving against RiverNorthDoubleLine Etf
| 0.91 | DSJA | DSJA | PairCorr |
| 0.9 | TSJA | TSJA | PairCorr |
| 0.9 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.85 | SIXD | AIM ETF Products | PairCorr |
| 0.85 | CVX | Chevron Corp Sell-off Trend | PairCorr |
The ability to find closely correlated positions to RiverNorthDoubleLine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RiverNorthDoubleLine 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 RiverNorthDoubleLine - 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 RiverNorthDoubleLine Strategic Opportunity to buy it.
The correlation of RiverNorthDoubleLine 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 RiverNorthDoubleLine moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RiverNorthDoubleLine 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 RiverNorthDoubleLine 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.Other Information on Investing in RiverNorthDoubleLine Etf
RiverNorthDoubleLine financial ratios help investors to determine whether RiverNorthDoubleLine Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in RiverNorthDoubleLine with respect to the benefits of owning RiverNorthDoubleLine security.