Open Orphan Correlations

OPORF Stock

USD 0.09 0.00 0.00%

The current 90-days correlation between Open Orphan plc and NRX Pharmaceuticals is -0.09 (i.e., Good diversification). The correlation of Open Orphan 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.

Open Orphan Correlation With Market

Pay attention - limited upside

The correlation between Open Orphan plc and DJI is -0.82 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Open Orphan plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Open Pink Sheet

0.71	ARGX	argenx NV ADR	Pair Corr
0.77	ALNY	Alnylam Pharmaceuticals	Pair Corr

Moving against Open Pink Sheet

0.94	TEXG	Terax Energy	Pair Corr
0.92	THLLY	Thales SA ADR	Pair Corr
0.87	BBWI	Bath Body Works Earnings Call Today	Pair Corr
0.84	FLLLF	Feel Foods	Pair Corr
0.82	WEGRY	Weir Group PLC	Pair Corr
0.81	UEC	Uranium Energy Corp	Pair Corr
0.8	HGKGY	Power Assets Holdings	Pair Corr
0.79	KOF	Coca Cola Femsa	Pair Corr
0.74	BHPLF	BHP Group Limited	Pair Corr
0.71	SAPMF	Saipem SpA Earnings Call This Week	Pair Corr
0.68	KEY	KeyCorp	Pair Corr
0.66	DAC	Danaos	Pair Corr
0.66	PCSC	Perceptive Capital	Pair Corr
0.61	VRTX	Vertex Pharmaceuticals	Pair Corr
0.59	KOS	Kosmos Energy Buyout Trend	Pair Corr
0.43	TRNO	Terreno Realty	Pair Corr
0.41	PSWR	Prism Software	Pair Corr
0.38	TRTN-PC	Triton International	Pair Corr
0.34	REGN	Regeneron Pharmaceuticals	Pair Corr
0.31	92343VCX0	VERIZON MUNICATIONS INC	Pair Corr
0.9	HTCMF	Hitachi Construction	Pair Corr
0.86	KRUS	Kura Sushi USA	Pair Corr
0.84	WT	WisdomTree	Pair Corr
0.81	EDRVF	EDP Renovaveis	Pair Corr
0.78	AP	Ampco Pittsburgh	Pair Corr
0.76	MARUY	Marubeni Corp ADR	Pair Corr
0.75	MLSPF	Melrose Industries PLC	Pair Corr
0.74	THYCF	Taiheiyo Cement	Pair Corr
0.72	NPSCY	Nippon Steel Corp	Pair Corr

Related Correlations Analysis

	OTLK	NRXP	SPRB	ICCC	CUE	IOBT	OSTX	FBIO	HOWL	INKT
OTLK		0.49	0.52	-0.64	0.53	0.85	0.76	-0.41	0.73	0.15	OTLK
NRXP	0.49		0.64	-0.43	0.34	0.64	0.53	0.12	0.16	0.39	NRXP
SPRB	0.52	0.64		-0.64	0.63	0.58	0.6	-0.24	0.45	0.25	SPRB
ICCC	-0.64	-0.43	-0.64		-0.77	-0.57	-0.64	0.64	-0.62	0.15	ICCC
CUE	0.53	0.34	0.63	-0.77		0.53	0.76	-0.59	0.79	0.07	CUE
IOBT	0.85	0.64	0.58	-0.57	0.53		0.79	-0.15	0.62	0.26	IOBT
OSTX	0.76	0.53	0.6	-0.64	0.76	0.79		-0.48	0.73	0.36	OSTX
FBIO	-0.41	0.12	-0.24	0.64	-0.59	-0.15	-0.48		-0.6	0.23	FBIO
HOWL	0.73	0.16	0.45	-0.62	0.79	0.62	0.73	-0.6		0.16	HOWL
INKT	0.15	0.39	0.25	0.15	0.07	0.26	0.36	0.23	0.16		INKT
	OTLK	NRXP	SPRB	ICCC	CUE	IOBT	OSTX	FBIO	HOWL	INKT

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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

IOBT	+ 0.85	OTLK
HOWL	+ 0.79	CUE
OSTX	+ 0.79	IOBT
OSTX	+ 0.76	OTLK
OSTX	+ 0.76	CUE
HOWL	+ 0.73	OTLK

High negative correlations

CUE	- 0.77	ICCC
OSTX	- 0.64	ICCC
ICCC	- 0.64	SPRB
ICCC	- 0.64	OTLK
HOWL	- 0.62	ICCC
HOWL	- 0.6	FBIO

Risk-Adjusted Indicators

There is a big difference between Open Pink Sheet performing well and Open Orphan 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 Open Orphan'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
OTLK	5.53	(1.37)	0.00	2.54	0.00	0.00	11.32	(14.29)	72.05
NRXP	3.88	(0.18)	0.00	0.22	0.00	0.00	7.39	(7.26)	19.22
SPRB	4.94	(0.77)	0.00	(0.90)	0.00	0.00	8.66	(11.55)	36.59
ICCC	2.34	0.47	0.18	0.47	2.27	(2.77)	5.49	(4.42)	13.71
CUE	5.41	(0.79)	0.00	(1.01)	0.00	0.00	9.68	(12.50)	50.98
IOBT	8.12	0.24	0.02	1.05	11.94	(10.57)	9.84	(14.71)	151.49
OSTX	3.26	(0.36)	0.00	(0.26)	0.00	0.00	6.56	(5.81)	16.33
FBIO	3.56	0.21	0.06	0.12	4.31	(4.10)	10.11	(7.14)	29.21
HOWL	4.40	(0.43)	0.00	(0.38)	0.00	0.00	8.70	(6.94)	47.95
INKT	2.30	(0.01)	(0.01)	0.01	2.66	(2.73)	5.52	(4.09)	19.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in Open Orphan 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.

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Open Orphan Corporate Management

Yamin Khan	CEO Director	Profile
Maurice Treacy	Chief Officer	Profile
Leo Toole	Ex Officer	Profile
Stephen Pinkerton	CFO Director	Profile
Teja MaratheSarvadikar	Head QA	Profile
Andrew Catchpole	Chief Officer	Profile

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