OPCT3F Correlations

OPCT3F Stock

9.71 0.43 4.63%

The current 90-days correlation between OPCT3F and Berkshire Hathaway is -0.1 (i.e., Good 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

0.87	TSMC34	Taiwan Semiconductor	Pair Corr
0.85	B1SA34	Banco Santander Chile	Pair Corr
0.87	H1SB34	HSBC Holdings plc	Pair Corr
0.85	CATP34	Caterpillar	Pair Corr
0.7	SBSP3	Companhia de Saneamento Split	Pair Corr
0.79	CMIG4	Companhia Energtica	Pair Corr
0.84	C1FG34	Citizens Financial	Pair Corr
0.76	GGBR4F	GGBR4F	Pair Corr
0.96	VALE3F	VALE3F	Pair Corr
0.84	GOAU4	Metalurgica Gerdau Split	Pair Corr
0.92	ABCB4	Banco ABC Brasil	Pair Corr
0.8	BBSE3	BB Seguridade Partic	Pair Corr
0.87	TOPP11	Rbr Top Offices	Pair Corr
0.84	L1HX34	L3Harris Technologies	Pair Corr
0.81	JNJB34	Johnson Johnson	Pair Corr
0.79	FESA4F	FESA4F	Pair Corr
0.86	BBDC4	Banco Bradesco SA	Pair Corr
0.87	KLBN3	Klabin SA Split	Pair Corr
0.83	RADL3	Raia Drogasil SA Split	Pair Corr
0.62	GEPA3	Rio Paranapanema Energia	Pair Corr
0.93	EUCA4	Eucatex SA Indstria	Pair Corr
0.84	S1MF34	Sumitomo Mitsui Financial	Pair Corr

Moving against OPCT3F Stock

0.86	MSFT34	Microsoft	Pair Corr
0.82	BERK34	Berkshire Hathaway	Pair Corr
0.77	AAPL34	Apple Inc	Pair Corr
0.55	AMZO34	Amazon Inc	Pair Corr
0.47	TF623	TF623	Pair Corr

Related Correlations Analysis

	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	BERK34
TSMC34		-0.71	-0.23	-0.82	0.7	-0.41	-0.39	-0.61	-0.71	TSMC34
AAPL34	-0.71		-0.11	0.59	-0.69	0.08	0.09	0.25	0.79	AAPL34
BABA34	-0.23	-0.11		0.34	0.23	0.74	0.72	0.54	-0.02	BABA34
MSFT34	-0.82	0.59	0.34		-0.66	0.56	0.54	0.82	0.73	MSFT34
B1SA34	0.7	-0.69	0.23	-0.66		-0.03	-0.01	-0.33	-0.69	B1SA34
GOGL35	-0.41	0.08	0.74	0.56	-0.03		0.96	0.86	0.24	GOGL35
GOGL34	-0.39	0.09	0.72	0.54	-0.01	0.96		0.83	0.23	GOGL34
AMZO34	-0.61	0.25	0.54	0.82	-0.33	0.86	0.83		0.44	AMZO34
BERK34	-0.71	0.79	-0.02	0.73	-0.69	0.24	0.23	0.44		BERK34
	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	BERK34

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

GOGL34	+ 0.96	GOGL35
AMZO34	+ 0.86	GOGL35
AMZO34	+ 0.83	GOGL34
AMZO34	+ 0.82	MSFT34
BERK34	+ 0.79	AAPL34
GOGL35	+ 0.74	BABA34

High negative correlations

MSFT34	- 0.82	TSMC34
BERK34	- 0.71	TSMC34
AAPL34	- 0.71	TSMC34
BERK34	- 0.69	B1SA34
B1SA34	- 0.69	AAPL34
B1SA34	- 0.66	MSFT34

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	1.71	0.30	0.15	0.60	1.61	(1.86)	4.09	(2.92)	10.38
AAPL34	1.17	(0.12)	0.00	0.42	0.00	0.00	2.78	(2.86)	9.45
BABA34	1.83	(0.30)	0.00	(0.65)	0.00	0.00	3.96	(3.29)	14.44
MSFT34	1.45	(0.27)	0.00	2.69	0.00	0.00	3.05	(3.82)	11.51
B1SA34	1.41	0.09	0.02	3.40	1.87	(1.65)	2.70	(2.82)	12.08
GOGL35	1.23	(0.14)	0.00	1.12	0.00	0.00	2.69	(3.02)	7.63
GOGL34	1.44	(0.04)	0.00	(0.21)	0.00	0.00	3.16	(2.87)	10.40
AMZO34	1.52	(0.12)	0.00	0.72	0.00	0.00	3.16	(3.14)	14.54
BERK34	0.93	(0.11)	0.00	0.43	0.00	0.00	1.85	(2.43)	6.75

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 Berkshire Hathaway American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

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