BLZE vs OPLN: Correlation
Backblaze, Inc. (BLZE) and OPENLANE, Inc. (OPLN) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLZE and OPLN?
Over the past 3 years, BLZE and OPLN moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 1477.0 %².
Within BLZE's tracked universe of 20 assets, OPLN comes in at #4 by 3-year correlation. The last year tells two different stories: BLZE led by 63.9 percentage points, +85.9% for BLZE against +22.0% for OPLN. One caveat on sizing: BLZE is 2.8 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.
BLZE vs OPLN: side by side
| BLZE (Backblaze, Inc.) | OPLN (OPENLANE, Inc.) | |
|---|---|---|
| 1-year return | +85.9% | +22.0% |
| 5-year return | -23.4% | +111.4% |
| Volatility (ann.) | 92.9% | 33.5% |
| Beta vs S&P 500 | 1.92 | 1.02 |
| Max drawdown (3Y) | -72.0% | -22.1% |
| Market cap | $0.9B | $4.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLZE | OPLN |
|---|---|---|
| 2022 | -63.6% | -16.5% |
| 2023 | +23.4% | +13.5% |
| 2024 | -20.7% | +34.0% |
| 2025 | -22.6% | +50.1% |
| 2026 | +227.0% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLZE and OPLN good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BLZE and OPLN?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.57 over the last year and 0.37 over 5 years.
Is OPLN a good diversifier for BLZE?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/blze-vs-opln.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/blze-vs-opln/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BLZE correlations · OPLN correlations
