ANY vs OPAD: Correlation
Measured on weekly returns over the past three years, Sphere 3D Corp. (ANY) and Offerpad Solutions Inc. (OPAD) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANY and OPAD?
Over the past 3 years, ANY and OPAD moved with a correlation of 0.45, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.74 versus 0.45 over 3 years. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 27893.4 %².
Few assets follow ANY as closely as OPAD, which ranks #3 of 11 tracked partners. The last year tells two different stories: OPAD led by 89.6 percentage points, -56.3% for ANY against +33.3% for OPAD. One caveat on sizing: OPAD is 3.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ANY vs OPAD: side by side
| ANY (Sphere 3D Corp.) | OPAD (Offerpad Solutions Inc.) | |
|---|---|---|
| 1-year return | -56.3% | +33.3% |
| 5-year return | -99.4% | -96.7% |
| Volatility (ann.) | 139.7% | 440.7% |
| Beta vs S&P 500 | 0.88 | -1.25 |
| Max drawdown (3Y) | -97.3% | -95.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANY | OPAD |
|---|---|---|
| 2022 | -91.2% | -92.8% |
| 2023 | +71.8% | +48.2% |
| 2024 | -71.6% | -72.2% |
| 2025 | -68.4% | -57.5% |
| 2026 | -14.1% | +270.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANY and OPAD good diversifiers for each other?
Reasonably. At 0.45, ANY and OPAD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ANY and OPAD?
The ANY/OPAD correlation stands at 0.45 on a 3-year window (1 year: 0.74, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is OPAD a good diversifier for ANY?
Reasonably. At 0.45, ANY and OPAD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/any-vs-opad.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/any-vs-opad/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ANY correlations · OPAD correlations
