Which stocks are most correlated with OPP?

Based on one year of daily returns, the stocks most correlated with RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (OPP) are NFJ (0.49), BOE (0.49) and BLW (0.49). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with OPP?

Over the past year, the stocks most inversely correlated with RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (OPP) are CARD (-0.42), SMDD (-0.39) and MZZ (-0.38). A negative correlation means the two stocks have tended to move in opposite directions.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (OPP) — Stock Correlations & Overview

Over the past year, OPP has moved most closely with NFJ, BOE, BLW. Explore the stocks most correlated and inversely correlated with OPP below, along with its price, financials, and company profile.

Stocks correlated with OPP

Correlation of daily returns. Higher positive values move with OPP; negative values move opposite it. Informational only, not investment advice.

Most correlated with OPP

Symbol	Company	Correlation
NFJ	Virtus Dividend, Interest & Premium Strategy Fund	0.49
BOE	BlackRock Enhanced Global Dividend Trust	0.49
BLW	Blackrock Limited Duration Income Trust	0.49
EXG	Eaton Vance Tax-Managed Global Diversified Equity Income Fund	0.49
ETW	Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund	0.48

Most inversely correlated with OPP

Symbol	Company	Correlation
CARD	MAX Auto Industry -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC	-0.42
SMDD	ProShares UltraPro Short MidCap400	-0.39
MZZ	ProShares UltraShort MidCap400	-0.38
MYY	ProShares Short MidCap400	-0.38
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.37

Frequently asked questions about OPP correlations

Which stocks are most correlated with OPP?: Based on one year of daily returns, the stocks most correlated with RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (OPP) are NFJ (0.49), BOE (0.49) and BLW (0.49). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with OPP?: Over the past year, the stocks most inversely correlated with RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (OPP) are CARD (-0.42), SMDD (-0.39) and MZZ (-0.38). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these OPP correlations calculated?: We compute the correlation of daily returns between OPP and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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