Robinhood Markets Correlations

HOOD Stock

USD 109.74 4.29 4.07%

The current 90-days correlation between Robinhood Markets and Affirm Holdings is 0.42 (i.e., Very weak diversification). The correlation of Robinhood Markets 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.

Robinhood Markets Correlation With Market

Very weak diversification

The correlation between Robinhood Markets and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Robinhood Markets and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Robinhood Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Robinhood Markets. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with Robinhood Stock

0.91	DHIL	Diamond Hill Investment	Pair Corr
0.84	DIST	Distoken Acquisition	Pair Corr
0.68	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.73	AC	Associated Capital	Pair Corr
0.93	BN	Brookfield Corp	Pair Corr
0.87	BX	Blackstone Group Normal Trading	Pair Corr
0.97	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.91	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.81	DX	Dynex Capital Earnings Call This Week	Pair Corr
0.97	GS	Goldman Sachs Group	Pair Corr
0.88	LC	LendingClub Corp	Pair Corr
0.92	MC	Moelis Earnings Call This Week	Pair Corr
0.94	MS	Morgan Stanley Sell-off Trend	Pair Corr
0.87	QD	Qudian Inc	Pair Corr
0.95	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.97	WT	WisdomTree	Pair Corr
0.68	XP	Xp Inc Downward Rally	Pair Corr
0.9	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.87	VIRT	Virtu Financial,	Pair Corr
0.71	DYCQ	DT Cloud Acquisition	Pair Corr
0.96	VRTS	Virtus Investment Earnings Call This Week	Pair Corr
0.94	EARN	Ellington Residential	Pair Corr

Moving against Robinhood Stock

0.52	LX	Lexinfintech Holdings	Pair Corr
0.89	WU	Western Union	Pair Corr
0.74	GCMGW	GCM Grosvenor	Pair Corr
0.68	ANSCW	Agriculture Natural	Pair Corr
0.63	EZPW	EZCORP Inc	Pair Corr
0.32	FBRT	Franklin BSP Realty	Pair Corr

Related Correlations Analysis

	AFRM	XYZ	PATH	TOST	NET	COIN	RBLX	RIVN	SOFI
AFRM		0.82	0.64	0.71	0.89	0.89	0.93	0.02	0.89	AFRM
XYZ	0.82		0.55	0.74	0.87	0.83	0.86	0.02	0.78	XYZ
PATH	0.64	0.55		0.79	0.76	0.53	0.63	0.6	0.49	PATH
TOST	0.71	0.74	0.79		0.9	0.76	0.82	0.56	0.66	TOST
NET	0.89	0.87	0.76	0.9		0.86	0.96	0.33	0.78	NET
COIN	0.89	0.83	0.53	0.76	0.86		0.92	0.07	0.94	COIN
RBLX	0.93	0.86	0.63	0.82	0.96	0.92		0.15	0.88	RBLX
RIVN	0.02	0.02	0.6	0.56	0.33	0.07	0.15		-0.09	RIVN
SOFI	0.89	0.78	0.49	0.66	0.78	0.94	0.88	-0.09		SOFI
	AFRM	XYZ	PATH	TOST	NET	COIN	RBLX	RIVN	SOFI

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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

RBLX	+ 0.96	NET
SOFI	+ 0.94	COIN
RBLX	+ 0.93	AFRM
RBLX	+ 0.92	COIN
NET	+ 0.9	TOST
NET	+ 0.89	AFRM

High negative correlations

SOFI

- 0.09

RIVN

Risk-Adjusted Indicators

There is a big difference between Robinhood Stock performing well and Robinhood Markets 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 Robinhood Markets' 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
AFRM	2.87	0.56	0.17	0.37	3.79	(3.13)	5.76	(5.03)	24.28
XYZ	2.20	0.33	0.07	0.39	4.00	(2.09)	5.43	(3.57)	24.14
PATH	1.61	0.11	0.06	0.23	1.84	(1.77)	3.82	(3.30)	10.88
TOST	1.90	0.46	0.17	1.81	1.78	(2.33)	3.29	(3.16)	18.53
NET	1.74	0.82	0.29	0.92	1.78	(2.04)	5.61	(4.95)	13.55
COIN	3.50	1.28	0.47	1.32	2.18	(4.67)	9.01	(4.55)	31.18
RBLX	1.64	1.14	0.59	2.44	0.74	(2.18)	4.80	(2.48)	11.70
RIVN	2.31	0.22	0.03	(2.67)	2.52	(2.46)	4.38	(3.53)	12.00
SOFI	2.32	0.89	0.37	0.68	2.03	(2.95)	5.75	(3.35)	11.96

Robinhood Markets Corporate Management

Lucas JD	General VP	Profile
Johann Kerbrat	VP Crypto	Profile
Jason CPA	Chief Officer	Profile
Jeffrey Pinner	Chief Officer	Profile
Vladimir Tenev	President, CoFounder	Profile
JD Gallagher	Compliance Legal	Profile
Jason Warnick	Chief Officer	Profile

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