Correlation Between OPERA SOFTWARE and TeamViewer

Can any of the company-specific risk be diversified away by investing in both OPERA SOFTWARE and TeamViewer at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining OPERA SOFTWARE and TeamViewer into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between OPERA SOFTWARE and TeamViewer AG, you can compare the effects of market volatilities on OPERA SOFTWARE and TeamViewer and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in OPERA SOFTWARE with a short position of TeamViewer. Check out your portfolio center. Please also check ongoing floating volatility patterns of OPERA SOFTWARE and TeamViewer.

Diversification Opportunities for OPERA SOFTWARE and TeamViewer

-0.47

Correlation Coefficient

OPERA SOFTWARE  TeamViewer

Very good diversification

The 3 months correlation between OPERA and TeamViewer is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding OPERA SOFTWARE and TeamViewer AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TeamViewer AG and OPERA SOFTWARE is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on OPERA SOFTWARE are associated (or correlated) with TeamViewer. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TeamViewer AG has no effect on the direction of OPERA SOFTWARE i.e., OPERA SOFTWARE and TeamViewer go up and down completely randomly.

Pair Corralation between OPERA SOFTWARE and TeamViewer

Assuming the 90 days trading horizon OPERA SOFTWARE is expected to generate 0.82 times more return on investment than TeamViewer. However, OPERA SOFTWARE is 1.22 times less risky than TeamViewer. It trades about 0.1 of its potential returns per unit of risk. TeamViewer AG is currently generating about -0.06 per unit of risk. If you would invest  98.00  in OPERA SOFTWARE on June 11, 2025 and sell it today you would earn a total of  12.00  from holding OPERA SOFTWARE or generate 12.24% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	98.46%
Values	Daily Returns

OPERA SOFTWARE  vs.  TeamViewer AG

OPERA SOFTWARE

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in OPERA SOFTWARE are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively unsteady basic indicators, OPERA SOFTWARE unveiled solid returns over the last few months and may actually be approaching a breakup point.

TeamViewer AG

Risk-Adjusted Performance

Weakest

Over the last 90 days TeamViewer AG has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest fragile performance, the Stock's basic indicators remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

Pair Trading with OPERA SOFTWARE and TeamViewer

The main advantage of trading using opposite OPERA SOFTWARE and TeamViewer positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OPERA SOFTWARE position performs unexpectedly, TeamViewer 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 TeamViewer will offset losses from the drop in TeamViewer's long position.

The idea behind OPERA SOFTWARE and TeamViewer AG pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

Check out your portfolio center.

Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.