BJDX vs OPAD: Correlation
How closely do Bluejay Diagnostics, Inc. (BJDX) and Offerpad Solutions Inc. (OPAD) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJDX and OPAD?
Over the past 3 years, BJDX and OPAD moved with a correlation of 0.46, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.61 versus 0.46 over 3 years. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 30512.7 %².
OPAD is one of the assets that tracks BJDX most closely: it ranks #1 out of the 19 assets we track against BJDX. Correlation aside, the last 12 months split them widely, with OPAD ahead by 116.7 points (-83.4% versus +33.3%). Note the risk asymmetry: OPAD runs 2.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BJDX vs OPAD: side by side
| BJDX (Bluejay Diagnostics, Inc.) | OPAD (Offerpad Solutions Inc.) | |
|---|---|---|
| 1-year return | -83.4% | +33.3% |
| 5-year return | -100.0% | -96.7% |
| Volatility (ann.) | 151.7% | 440.7% |
| Beta vs S&P 500 | -0.30 | -1.25 |
| Max drawdown (3Y) | -100.0% | -95.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BJDX | OPAD |
|---|---|---|
| 2022 | -85.2% | -92.8% |
| 2023 | -83.9% | +48.2% |
| 2024 | -99.0% | -72.2% |
| 2025 | -86.3% | -57.5% |
| 2026 | -65.9% | +270.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJDX and OPAD good diversifiers for each other?
Reasonably. At 0.46, BJDX and OPAD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BJDX and OPAD?
The BJDX/OPAD correlation stands at 0.46 on a 3-year window (1 year: 0.61, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is OPAD a good diversifier for BJDX?
Reasonably. At 0.46, BJDX and OPAD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bjdx-vs-opad.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bjdx-vs-opad/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BJDX correlations · OPAD correlations
