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.

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 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

0.78	AGMH	AGM Group Holdings	Pair Corr
0.82	PLSE	Pulse Biosciences	Pair Corr
0.66	ASB-PF	Associated Banc Corp	Pair Corr
0.66	KNOP	KNOT Offshore Partners	Pair Corr
0.61	PBT	Permian Basin Royalty	Pair Corr
0.66	WYY	Widepoint C Tech Boost	Pair Corr
0.63	JGCCY	JGC Corp	Pair Corr
0.71	NHC	National HealthCare	Pair Corr
0.65	LZRFY	Localiza Rent A	Pair Corr
0.75	JAZZ	Jazz Pharmaceuticals PLC	Pair Corr
0.78	YLLXF	Yellow Cake plc	Pair Corr
0.86	BDRBF	Bombardier	Pair Corr

Moving against Robinhood Stock

0.88	FDS	FactSet Research Systems	Pair Corr
0.85	MORN	Morningstar	Pair Corr
0.84	ICE	Intercontinental Exchange	Pair Corr
0.82	TW	Tradeweb Markets	Pair Corr
0.74	MKTX	MarketAxess Holdings	Pair Corr
0.74	SPGI	SP Global Sell-off Trend	Pair Corr
0.63	MCO	Moodys	Pair Corr
0.49	NDAQ	Nasdaq Inc	Pair Corr
0.42	CME	CME Group	Pair Corr
0.41	ARLUF	Aristocrat Leisure	Pair Corr

Related Correlations Analysis

	AFRM	XYZ	PATH	TOST	NET	COIN	RBLX	RIVN	SOFI
AFRM		0.22	-0.18	-0.45	0.71	-0.63	0.61	0.36	0.74	AFRM
XYZ	0.22		0.12	0.08	0.31	-0.07	0.23	0.15	0.27	XYZ
PATH	-0.18	0.12		-0.46	0.25	0.55	-0.02	0.22	0.31	PATH
TOST	-0.45	0.08	-0.46		-0.65	0.2	-0.42	-0.45	-0.8	TOST
NET	0.71	0.31	0.25	-0.65		-0.34	0.82	0.49	0.81	NET
COIN	-0.63	-0.07	0.55	0.2	-0.34		-0.4	0.02	-0.33	COIN
RBLX	0.61	0.23	-0.02	-0.42	0.82	-0.4		0.44	0.62	RBLX
RIVN	0.36	0.15	0.22	-0.45	0.49	0.02	0.44		0.62	RIVN
SOFI	0.74	0.27	0.31	-0.8	0.81	-0.33	0.62	0.62		SOFI
	AFRM	XYZ	PATH	TOST	NET	COIN	RBLX	RIVN	SOFI

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	+ 0.82	NET
SOFI	+ 0.81	NET
SOFI	+ 0.74	AFRM
NET	+ 0.71	AFRM
SOFI	+ 0.62	RBLX
SOFI	+ 0.62	RIVN

High negative correlations

SOFI	- 0.8	TOST
NET	- 0.65	TOST
COIN	- 0.63	AFRM
TOST	- 0.46	PATH
RIVN	- 0.45	TOST
TOST	- 0.45	AFRM

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	2.94	0.08	0.03	0.05	3.91	(2.82)	6.71	(7.05)	21.02
XYZ	1.95	0.10	0.05	0.06	2.50	(2.23)	4.65	(4.28)	11.73
PATH	2.60	0.46	0.18	0.30	2.29	(3.34)	6.53	(4.19)	15.34
TOST	1.70	(0.38)	0.00	(0.20)	0.00	0.00	2.54	(4.46)	11.20
NET	1.76	0.24	0.11	0.34	2.01	(1.79)	3.71	(3.23)	8.04
COIN	2.42	(0.13)	0.00	(0.03)	0.00	0.00	6.52	(5.82)	19.85
RBLX	2.37	0.33	0.10	2.18	2.83	(2.55)	5.81	(3.45)	19.55
RIVN	2.13	(0.05)	0.00	(0.04)	0.00	0.00	5.29	(4.20)	15.40
SOFI	2.48	0.34	0.13	0.21	2.58	(2.84)	5.49	(4.10)	12.67

Robinhood Markets Corporate Management

Lucas JD	General VP	Profile
Jeffrey Pinner	Chief Officer	Profile
Connie Schan	Chief Officer	Profile
JD Gallagher	Compliance Legal	Profile
Alex Mesa	Head Experience	Profile
Ravi Mehta	Chief Officer	Profile
Stephanie CFA	Chief Officer	Profile

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