ODP Corp Correlations

ODP Stock

USD 13.91 0.02 0.14%

The current 90-days correlation between ODP Corp and Sally Beauty Holdings is 0.55 (i.e., Very weak diversification). 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

ODP Corp Correlation With Market

Weak diversification

The correlation between ODP Corp and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ODP Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ODP Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

To learn how to invest in ODP Stock, please use our How to Invest in ODP Corp guide.

Moving together with ODP Stock

0.88	BQ	Boqii Holding Limited	Pair Corr
0.89	HD	Home Depot Earnings Call This Week	Pair Corr
0.92	RH	RH Downward Rally	Pair Corr
0.91	VSCO	Victorias Secret	Pair Corr
0.85	WEYS	Weyco Group	Pair Corr
0.92	FLWS	1 800 FLOWERSCOM	Pair Corr
0.93	ABG	Asbury Automotive	Pair Corr
0.81	ASO	Academy Sports Outdoors	Pair Corr
0.81	BBY	Best Buy	Pair Corr
0.79	BGI	Birks Group	Pair Corr
0.88	FND	Floor Decor Holdings Sell-off Trend	Pair Corr
0.72	GAP	Gap, Symbol Change	Pair Corr
0.93	GCT	GigaCloud Technology	Pair Corr
0.81	GPI	Group 1 Automotive	Pair Corr
0.72	HVT	Haverty Furniture	Pair Corr
0.91	LAD	Lithia Motors	Pair Corr
0.89	LOW	Lowes Companies	Pair Corr
0.88	HOUR	Hour Loop	Pair Corr
0.94	JFBR	Jeffs Brands	Pair Corr
0.82	KIRK	Kirklands	Pair Corr
0.61	LOGC	Contextlogic Earnings Call Today	Pair Corr
0.86	PETS	PetMed Express	Pair Corr
0.69	POOL	Pool	Pair Corr
0.93	ARHS	Arhaus Inc Earnings Call Tomorrow	Pair Corr
0.88	SNBR	Sleep Number Corp	Pair Corr
0.8	TTSH	Tile Shop Holdings Earnings Call Tomorrow	Pair Corr
0.82	SG	Sweetgreen	Pair Corr
0.81	WH	Wyndham Hotels Resorts	Pair Corr
0.79	WING	Wingstop	Pair Corr
0.87	EWCZ	European Wax Center Downward Rally	Pair Corr
0.62	BDL	Flanigans Enterprises Earnings Call This Week	Pair Corr
0.9	BLD	Topbuild Corp	Pair Corr
0.86	CMG	Chipotle Mexican Grill	Pair Corr

Moving against ODP Stock

0.64

RAY

Raytech Holding

Pair Corr

Related Correlations Analysis

	LESL	SBH	FLWS	CASY	EYE	SPWH	BGFV	MUSA	GPC	ORLY
LESL		0.9	0.91	-0.24	-0.22	0.54	0.96	0.16	0.18	-0.59	LESL
SBH	0.9		0.8	-0.41	-0.17	0.34	0.84	0.01	0.28	-0.52	SBH
FLWS	0.91	0.8		-0.24	-0.1	0.52	0.96	0.06	0.35	-0.63	FLWS
CASY	-0.24	-0.41	-0.24		0.0	0.46	-0.23	0.79	-0.55	0.58	CASY
EYE	-0.22	-0.17	-0.1	0.0		-0.4	-0.15	-0.31	0.39	0.34	EYE
SPWH	0.54	0.34	0.52	0.46	-0.4		0.56	0.68	-0.3	-0.24	SPWH
BGFV	0.96	0.84	0.96	-0.23	-0.15	0.56		0.08	0.27	-0.6	BGFV
MUSA	0.16	0.01	0.06	0.79	-0.31	0.68	0.08		-0.49	0.27	MUSA
GPC	0.18	0.28	0.35	-0.55	0.39	-0.3	0.27	-0.49		-0.18	GPC
ORLY	-0.59	-0.52	-0.63	0.58	0.34	-0.24	-0.6	0.27	-0.18		ORLY
	LESL	SBH	FLWS	CASY	EYE	SPWH	BGFV	MUSA	GPC	ORLY

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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

BGFV	+ 0.96	LESL
BGFV	+ 0.96	FLWS
FLWS	+ 0.91	LESL
SBH	+ 0.9	LESL
BGFV	+ 0.84	SBH
FLWS	+ 0.8	SBH

High negative correlations

ORLY	- 0.63	FLWS
ORLY	- 0.6	BGFV
ORLY	- 0.59	LESL
GPC	- 0.55	CASY
ORLY	- 0.52	SBH
GPC	- 0.49	MUSA

Risk-Adjusted Indicators

There is a big difference between ODP Stock performing well and ODP Corp 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 ODP Corp'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
LESL	4.80	(1.39)	0.00	(1.41)	0.00	0.00	8.70	(10.84)	33.16
SBH	2.51	(0.38)	0.00	(0.60)	0.00	0.00	3.73	(5.56)	12.94
FLWS	2.91	(0.34)	0.00	(0.39)	0.00	0.00	4.37	(6.38)	21.58
CASY	1.69	0.27	0.12	0.20	2.26	(1.63)	3.97	(3.56)	13.59
EYE	2.47	0.41	0.11	0.19	3.21	(2.57)	4.71	(4.50)	23.58
SPWH	6.12	0.56	0.07	0.15	6.39	(7.53)	6.90	(9.52)	117.74
BGFV	2.62	(0.66)	0.00	(0.83)	0.00	0.00	5.56	(6.32)	16.60
MUSA	1.52	0.07	0.07	0.05	2.06	(1.42)	2.44	(3.57)	9.30
GPC	1.47	0.13	0.07	0.04	2.06	(1.38)	2.75	(3.09)	10.00
ORLY	1.32	0.13	0.14	0.24	1.43	(1.46)	2.41	(2.05)	7.12

ODP Corp Corporate Management

Sarah McConnell	Chief VP	Profile
Sarah Hlavinka	Chief VP	Profile
Zoe Maloney	Executive Officer	Profile
Timothy Perrott	Vice Relations	Profile
Richard Leland	Vice Treasurer	Profile

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