ODP Corp Stock Forecast - Daily Balance Of Power
| ODP Stock | USD 26.69 1.45 5.74% |
ODP Stock Forecast is based on your current time horizon. Although ODP Corp's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of ODP Corp's systematic risk associated with finding meaningful patterns of ODP Corp fundamentals over time.
ODP |
| Previous Daily Balance Of Power | Daily Balance Of Power | Trend |
| (0.22) | (0.60) |
| Check ODP Corp Volatility | Backtest ODP Corp | Trend Details |
ODP Corp Trading Date Momentum
| On December 02 2024 ODP Corp was traded for 24.61 at the closing time. Highest ODP Corp's price during the trading hours was 25.62 and the lowest price during the day was 23.73 . The net volume was 745 K. The overall trading history on the 2nd of December contributed to the next trading period price depreciation. The trading delta at closing time to the next next day price was 4.17% . The trading delta at closing time to current price is 2.38% . |
Balance of Power indicator was created by Igor Livshin to predict asset short term price movements or warning signals. If Balance of Power indicator is trended towards the high of its range it will signify that the bulls are in control. On the other hand when the BOP indicator is moving towards the lows of its range it signifies that the bears are in control. If the indicator move from a high positive range to a lower positive range it signifies that the buying pressure is decreasing. Conversely, if the indicator move from a low negative range to a higher negative range it signifies that the selling pressure is decreasing.
| Compare ODP Corp to competition |
Other Forecasting Options for ODP Corp
For every potential investor in ODP, whether a beginner or expert, ODP Corp's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. ODP Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in ODP. Basic forecasting techniques help filter out the noise by identifying ODP Corp's price trends.ODP Corp 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 ODP Corp stock to make a market-neutral strategy. Peer analysis of ODP Corp could also be used in its relative valuation, which is a method of valuing ODP Corp by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
ODP Corp Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of ODP Corp's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of ODP Corp's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
ODP Corp Market Strength Events
Market strength indicators help investors to evaluate how ODP Corp stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading ODP Corp shares will generate the highest return on investment. By undertsting and applying ODP Corp stock market strength indicators, traders can identify ODP Corp entry and exit signals to maximize returns.
ODP Corp Risk Indicators
The analysis of ODP Corp's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in ODP Corp's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting odp stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 1.7 | |||
| Standard Deviation | 2.42 | |||
| Variance | 5.86 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Pair Trading with ODP Corp
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if ODP Corp position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ODP Corp will appreciate offsetting losses from the drop in the long position's value.Moving together with ODP Stock
Moving against ODP Stock
| 0.82 | MUSA | Murphy USA | PairCorr |
| 0.73 | ABG | Asbury Automotive | PairCorr |
| 0.68 | JFBR | Jeffs Brands | PairCorr |
| 0.67 | WRBY | Warby Parker | PairCorr |
| 0.61 | EYE | National Vision Holdings | PairCorr |
The ability to find closely correlated positions to ODP Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ODP Corp 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 ODP Corp - 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 ODP Corp to buy it.
The correlation of ODP Corp 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ODP Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ODP Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for ODP Corp can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for ODP Stock Analysis
When running ODP Corp's price analysis, check to measure ODP Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ODP Corp is operating at the current time. Most of ODP Corp's value examination focuses on studying past and present price action to predict the probability of ODP Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ODP Corp's price. Additionally, you may evaluate how the addition of ODP Corp to your portfolios can decrease your overall portfolio volatility.