RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (OPP) Correlation Distribution
Across 6,809 rolling correlation observations between RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (OPP) and other NASDAQ-listed stocks, 67.9% are positive and 32.1% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.299, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 38.8% and strong negative correlations (≤−0.7) for 5.9%.
- Total observations
- 6,809
- Mean correlation
- 0.299
- Most common range
- 0.7 to 0.8
- Positive pairs
- 67.9%
- Strong positive (≥0.7)
- 38.8%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 6 | 0.1% | |
| -0.9 to -0.8 | 198 | 2.9% | |
| -0.8 to -0.7 | 197 | 2.9% | |
| -0.7 to -0.6 | 302 | 4.4% | |
| -0.6 to -0.5 | 301 | 4.4% | |
| -0.5 to -0.4 | 243 | 3.6% | |
| -0.4 to -0.3 | 242 | 3.6% | |
| -0.3 to -0.2 | 238 | 3.5% | |
| -0.2 to -0.1 | 237 | 3.5% | |
| -0.1 to 0.0 | 225 | 3.3% | |
| 0.0 to 0.1 | 225 | 3.3% | |
| 0.1 to 0.2 | 215 | 3.2% | |
| 0.2 to 0.3 | 214 | 3.1% | |
| 0.3 to 0.4 | 271 | 4.0% | |
| 0.4 to 0.5 | 271 | 4.0% | |
| 0.5 to 0.6 | 392 | 5.8% | |
| 0.6 to 0.7 | 392 | 5.8% | |
| 0.7 to 0.8 | 906 | 13.3% | |
| 0.8 to 0.9 | 906 | 13.3% | |
| 0.9 to 1.0 | 828 | 12.2% |
Frequently asked questions
What is the average correlation of OPP?
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (OPP) has an average correlation of about 0.299 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is OPP positively correlated with other stocks?
Mostly yes — 67.9% of pairs are positive and 32.1% are negative. Strong positive correlations (≥0.7) make up 38.8%.
What is the most common correlation range for OPP?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 19.9% of all pairs.
Explore the full interactive correlation distribution for OPP.
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