Opera Correlations

OPRA Stock

USD 15.52 0.41 2.71%

The current 90-days correlation between Opera and Hello Group is 0.01 (i.e., Significant diversification). The correlation of Opera 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.

Opera Correlation With Market

Good diversification

The correlation between Opera and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Opera and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Opera Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Opera. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For information on how to trade Opera Stock refer to our How to Trade Opera Stock guide.

Moving against Opera Stock

0.56	ZM	Zoom Video Communications	Pair Corr
0.37	QH	Quhuo	Pair Corr
0.31	JG	Aurora Mobile	Pair Corr
0.38	60Z	UNIFIEDPOST GRP SANV	Pair Corr
0.33	RNI	OXFORD METRICS LS	Pair Corr

Related Correlations Analysis

	MOMO	IDT	GIBO	FUBO	ZD	CRTO	AMC	EVER	TBLA	SSTK
MOMO		-0.28	0.26	0.6	0.32	0.41	0.54	0.5	0.43	0.55	MOMO
IDT	-0.28		0.48	0.27	0.12	0.4	0.12	0.36	0.24	-0.07	IDT
GIBO	0.26	0.48		0.79	0.22	0.61	0.85	0.81	0.54	0.45	GIBO
FUBO	0.6	0.27	0.79		0.53	0.83	0.83	0.97	0.88	0.76	FUBO
ZD	0.32	0.12	0.22	0.53		0.61	0.25	0.53	0.56	0.5	ZD
CRTO	0.41	0.4	0.61	0.83	0.61		0.59	0.86	0.82	0.67	CRTO
AMC	0.54	0.12	0.85	0.83	0.25	0.59		0.78	0.55	0.62	AMC
EVER	0.5	0.36	0.81	0.97	0.53	0.86	0.78		0.88	0.73	EVER
TBLA	0.43	0.24	0.54	0.88	0.56	0.82	0.55	0.88		0.72	TBLA
SSTK	0.55	-0.07	0.45	0.76	0.5	0.67	0.62	0.73	0.72		SSTK
	MOMO	IDT	GIBO	FUBO	ZD	CRTO	AMC	EVER	TBLA	SSTK

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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

EVER	+ 0.97	FUBO
TBLA	+ 0.88	FUBO
TBLA	+ 0.88	EVER
EVER	+ 0.86	CRTO
AMC	+ 0.85	GIBO
CRTO	+ 0.83	FUBO

High negative correlations

IDT	- 0.28	MOMO
SSTK	- 0.07	IDT

Risk-Adjusted Indicators

There is a big difference between Opera Stock performing well and Opera 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 Opera'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
MOMO	1.27	(0.16)	0.00	0.55	0.00	0.00	2.80	(2.55)	8.47
IDT	1.23	0.06	0.02	0.24	1.48	(1.32)	2.68	(2.49)	6.89
GIBO	3.84	(0.62)	0.00	(1.04)	0.00	0.00	7.34	(8.30)	29.19
FUBO	2.50	(1.28)	0.00	(2.21)	0.00	0.00	3.33	(8.47)	26.43
ZD	3.11	0.55	0.16	0.99	3.18	(3.98)	3.77	(5.86)	18.01
CRTO	2.07	(0.05)	0.00	(0.04)	0.00	0.00	3.71	(4.27)	12.28
AMC	2.71	(1.01)	0.00	(0.53)	0.00	0.00	5.71	(5.70)	22.56
EVER	2.30	(0.62)	0.00	1.20	0.00	0.00	4.30	(5.25)	19.55
TBLA	1.73	(0.38)	0.00	(1.32)	0.00	0.00	3.73	(4.11)	10.32
SSTK	2.36	(0.27)	0.00	0.36	0.00	0.00	4.17	(5.07)	17.96

Opera Corporate Management

Julia Szyndzielorz	Senior Manager	Profile
Matthew Wolfson	Head Relations	Profile
Per Wetterdal	Executive Commercial	Profile
Lin Song	CoChief Officer	Profile
Frode Jacobsen	Chief Officer	Profile
Aaron McParlan	General Counsel	Profile

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