Opera Correlations

OPRA Stock

USD 14.07 0.01 0.07%

The current 90-days correlation between Opera and Hello Group is 0.14 (i.e., Average 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

Weak diversification

The correlation between Opera and DJI is 0.38 (i.e., Weak 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 together with Opera Stock

0.62	DV	DoubleVerify Holdings	Pair Corr
0.75	JG	Aurora Mobile Tech Boost	Pair Corr
0.83	QH	Quhuo	Pair Corr
0.64	VS	Versus Systems	Pair Corr
0.66	ZD	Ziff Davis	Pair Corr
0.84	VEEA	Veea Inc	Pair Corr
0.69	VERI	Veritone	Pair Corr
0.84	VERX	Vertex	Pair Corr
0.81	DSGX	Descartes Systems	Pair Corr
0.82	NOW	NowVertical Group	Pair Corr

Moving against Opera Stock

0.49	BL	Blackline	Pair Corr
0.33	U	Unity Software	Pair Corr
0.61	300845	Zhengzhou J	Pair Corr
0.48	RM	RM Plc	Pair Corr
0.42	300036	Beijing SuperMap Software	Pair Corr
0.48	ELWS	Earlyworks Tech Boost	Pair Corr
0.41	WALD	Waldencast Acquisition Earnings Call Tomorrow	Pair Corr
0.39	IOM	iomart Group plc	Pair Corr
0.37	MKT	DeepMarkit Corp	Pair Corr

Related Correlations Analysis

	MOMO	IDT	GIBO	FUBO	ZD	CRTO	AMC	EVER	TBLA	SSTK
MOMO		-0.53	-0.18	0.36	-0.25	-0.06	0.43	-0.25	-0.25	0.25	MOMO
IDT	-0.53		-0.24	-0.33	-0.01	0.34	-0.54	0.43	0.54	-0.39	IDT
GIBO	-0.18	-0.24		-0.25	0.53	-0.39	0.16	0.06	-0.28	0.0	GIBO
FUBO	0.36	-0.33	-0.25		-0.31	0.5	0.86	-0.65	-0.73	0.82	FUBO
ZD	-0.25	-0.01	0.53	-0.31		-0.16	-0.06	-0.15	-0.16	0.12	ZD
CRTO	-0.06	0.34	-0.39	0.5	-0.16		0.29	-0.2	-0.18	0.36	CRTO
AMC	0.43	-0.54	0.16	0.86	-0.06	0.29		-0.64	-0.84	0.84	AMC
EVER	-0.25	0.43	0.06	-0.65	-0.15	-0.2	-0.64		0.8	-0.9	EVER
TBLA	-0.25	0.54	-0.28	-0.73	-0.16	-0.18	-0.84	0.8		-0.87	TBLA
SSTK	0.25	-0.39	0.0	0.82	0.12	0.36	0.84	-0.9	-0.87		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

AMC	+ 0.86	FUBO
SSTK	+ 0.84	AMC
SSTK	+ 0.82	FUBO
TBLA	+ 0.8	EVER
TBLA	+ 0.54	IDT
ZD	+ 0.53	GIBO

High negative correlations

SSTK	- 0.9	EVER
SSTK	- 0.87	TBLA
TBLA	- 0.84	AMC
TBLA	- 0.73	FUBO
EVER	- 0.65	FUBO
EVER	- 0.64	AMC

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	1.15	0.01	(0.04)	0.16	1.57	(1.26)	2.34	(2.30)	9.42
IDT	1.24	0.03	0.00	0.12	1.41	(1.39)	2.30	(2.49)	6.84
GIBO	3.99	(0.28)	0.00	(4.30)	0.00	0.00	9.44	(7.66)	28.39
FUBO	2.50	(0.61)	0.00	(0.41)	0.00	0.00	4.28	(5.34)	18.47
ZD	1.82	(0.09)	(0.03)	0.03	2.05	(2.27)	4.30	(3.37)	11.02
CRTO	1.90	(0.12)	0.00	(0.02)	0.00	0.00	3.86	(4.14)	11.83
AMC	2.60	(0.96)	0.00	(0.46)	0.00	0.00	5.49	(5.70)	20.04
EVER	1.90	0.25	0.08	0.73	2.09	(1.92)	4.31	(3.88)	14.16
TBLA	1.88	0.42	0.19	0.64	1.62	(2.41)	3.94	(3.70)	15.48
SSTK	2.43	(0.57)	0.00	(0.20)	0.00	0.00	5.53	(4.66)	16.71

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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