OpenDoor Correlations

OPNDF Stock

USD 1.90 0.00 0.00%

The current 90-days correlation between OpenDoor and I Cable Communications Ltd is 0.01 (i.e., Significant diversification). The correlation of OpenDoor 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.

OpenDoor Correlation With Market

Significant diversification

The correlation between OpenDoor and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OpenDoor and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with OpenDoor Pink Sheet

0.72	TCTZF	Tencent Holdings	Pair Corr
0.7	TCEHY	Tencent Holdings	Pair Corr
0.88	PROSY	Prosus NV ADR	Pair Corr
0.83	PROSF	Prosus	Pair Corr
0.74	NIO	Nio Class A	Pair Corr

Moving against OpenDoor Pink Sheet

0.72	RDDT	Reddit,	Pair Corr
0.63	GOOG	Alphabet Class C Sell-off Trend	Pair Corr
0.4	F	Ford Motor	Pair Corr
0.32	MPW	Medical Properties Trust	Pair Corr
0.8	DDS	Dillards,	Pair Corr
0.79	GSVRF	Guanajuato Silver	Pair Corr
0.77	RIVN	Rivian Automotive Sell-off Trend	Pair Corr
0.7	INFY	Infosys Ltd ADR	Pair Corr
0.68	IDN	Intellicheck Mobilisa	Pair Corr
0.66	KODK	Eastman Kodak	Pair Corr
0.65	GM	General Motors	Pair Corr
0.61	AVTBF	Avant Brands	Pair Corr
0.6	NOEM	CO2 Energy Transition	Pair Corr
0.6	APGE	Apogee Therapeutics,	Pair Corr
0.59	PHAR	Pharming Group NV	Pair Corr
0.51	AKAM	Akamai Technologies	Pair Corr
0.47	ASTI	Ascent Solar Technol Trending	Pair Corr
0.73	HL	Hecla Mining	Pair Corr
0.68	ALVLF	Big Ridge Gold	Pair Corr
0.67	ULTA	Ulta Beauty	Pair Corr
0.66	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	CKPDY	ICABY	STEAF	SCGY	PHRZF	YLWDF	ELRE	TGRVF	MSEZ	USSHF
CKPDY		-0.08	0.0	0.19	-0.51	-0.52	0.2	0.0	-0.36	-0.99	CKPDY
ICABY	-0.08		0.0	-0.12	-0.17	0.62	-0.38	0.0	0.17	0.04	ICABY
STEAF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	STEAF
SCGY	0.19	-0.12	0.0		0.29	-0.46	0.0	0.0	-0.42	-0.17	SCGY
PHRZF	-0.51	-0.17	0.0	0.29		-0.15	-0.04	0.0	-0.37	0.52	PHRZF
YLWDF	-0.52	0.62	0.0	-0.46	-0.15		-0.3	0.0	0.57	0.48	YLWDF
ELRE	0.2	-0.38	0.0	0.0	-0.04	-0.3		0.0	-0.16	-0.19	ELRE
TGRVF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	TGRVF
MSEZ	-0.36	0.17	0.0	-0.42	-0.37	0.57	-0.16	0.0		0.33	MSEZ
USSHF	-0.99	0.04	0.0	-0.17	0.52	0.48	-0.19	0.0	0.33		USSHF
	CKPDY	ICABY	STEAF	SCGY	PHRZF	YLWDF	ELRE	TGRVF	MSEZ	USSHF

Please upgrade your account to get full access to Macroaxis premium features

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

YLWDF	+ 0.62	ICABY
MSEZ	+ 0.57	YLWDF
USSHF	+ 0.52	PHRZF
USSHF	+ 0.48	YLWDF
USSHF	+ 0.33	MSEZ
PHRZF	+ 0.29	SCGY

High negative correlations

USSHF	- 0.99	CKPDY
YLWDF	- 0.52	CKPDY
PHRZF	- 0.51	CKPDY
YLWDF	- 0.46	SCGY
MSEZ	- 0.42	SCGY
ELRE	- 0.38	ICABY

Risk-Adjusted Indicators

There is a big difference between OpenDoor Pink Sheet performing well and OpenDoor 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'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CKPDY	0.54	(0.30)	(2.08)	0.00	0.00	9.01
ICABY	4.92	0.94	(1.83)	20.00	(14.29)	75.71
STEAF	0.00	0.00	0.00	0.00	0.00	0.00
SCGY	2.80	(1.76)	(0.30)	0.00	0.00	89.62
PHRZF	2.57	0.53	(0.29)	3.43	(0.45)	66.16
YLWDF	0.22	0.07	(0.49)	0.50	0.00	2.75
ELRE	4.61	1.35	(0.44)	0.00	(6.52)	76.08
TGRVF	0.00	0.00	0.00	0.00	0.00	0.00
MSEZ	3.44	0.90	0.27	4.52	0.00	101.27
USSHF	25.41	12.42	1.88	0.00	0.00	830.18

Be your own money manager

Our tools can tell you how much better you can do entering a position in OpenDoor without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Holdings Now

Portfolio Holdings

Check your current holdings and cash postion to detemine if your portfolio needs rebalancing

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC