Robinhood Markets Correlations

HOOD Stock  USD 138.96  13.50  8.85%   
The current 90-days correlation between Robinhood Markets and Affirm Holdings is 0.26 (i.e., Modest 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

Weak diversification

The correlation between Robinhood Markets and DJI is 0.33 (i.e., 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.
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 metropolitan statistical area.
For information on how to trade Robinhood Stock refer to our How to Trade Robinhood Stock guide.

Moving together with Robinhood Stock

  0.72AGMH AGM Group HoldingsPairCorr
  0.78PLSE Pulse BiosciencesPairCorr
  0.66ASB-PF Associated Banc CorpPairCorr
  0.66KNOP KNOT Offshore PartnersPairCorr
  0.6587612GAD3 TRGP 65 15PairCorr
  0.61PBT Permian Basin RoyaltyPairCorr
  0.66WYY Widepoint C Tech BoostPairCorr
  0.64NHC National HealthCarePairCorr
  0.64LZRFY Localiza Rent APairCorr
  0.75JAZZ Jazz Pharmaceuticals PLCPairCorr
  0.7YLLXF Yellow Cake plcPairCorr
  0.86BDRBF BombardierPairCorr

Moving against Robinhood Stock

  0.88FDS FactSet Research SystemsPairCorr
  0.84ICE Intercontinental ExchangePairCorr
  0.82TW Tradeweb MarketsPairCorr
  0.75MORN MorningstarPairCorr
  0.74SPGI SP Global Sell-off TrendPairCorr
  0.68MKTX MarketAxess HoldingsPairCorr
  0.63MCO Moodys Earnings Call This WeekPairCorr
  0.49NDAQ Nasdaq IncPairCorr
  0.42CME CME GroupPairCorr
  0.31PNGM Er TherapeuticsPairCorr
  0.41ARLUF Aristocrat LeisurePairCorr

Related Correlations Analysis


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

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SOFINET
SOFIAFRM
NETAFRM
SOFIRBLX
SOFIRIVN
  

High negative correlations

SOFITOST
NETTOST
COINAFRM
TOSTPATH
RIVNTOST
TOSTAFRM

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.

Robinhood Markets Corporate Management

Lucas JDGeneral VPProfile
Jeffrey PinnerChief OfficerProfile
Connie SchanChief OfficerProfile
JD GallagherCompliance LegalProfile
Alex MesaHead ExperienceProfile
Ravi MehtaChief OfficerProfile
Stephanie CFAChief OfficerProfile