CANG vs OPLN: Correlation
Cango Inc. Class A (CANG) and OPENLANE, Inc. (OPLN) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CANG and OPLN?
On 3 years of weekly data the CANG/OPLN correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.34 over 3. The 5-year figure is 0.14, and annualized covariance runs at 959.2 %².
Few assets follow CANG as closely as OPLN, which ranks #3 of 11 tracked partners. The last year tells two different stories: OPLN led by 111.4 percentage points, -89.4% for CANG against +22.0% for OPLN. Note the risk asymmetry: CANG runs 2.5 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.
CANG vs OPLN: side by side
| CANG (Cango Inc. Class A) | OPLN (OPENLANE, Inc.) | |
|---|---|---|
| 1-year return | -89.4% | +22.0% |
| 5-year return | -60.9% | +111.4% |
| Volatility (ann.) | 84.7% | 33.5% |
| Beta vs S&P 500 | 1.14 | 1.02 |
| Max drawdown (3Y) | -96.5% | -22.1% |
| Market cap | $0.1B | $4.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CANG | OPLN |
|---|---|---|
| 2022 | +36.2% | -16.5% |
| 2023 | -22.1% | +13.5% |
| 2024 | +331.4% | +34.0% |
| 2025 | -31.8% | +50.1% |
| 2026 | -82.7% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CANG and OPLN good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CANG and OPLN?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.44 over the last year and 0.14 over 5 years.
Is OPLN a good diversifier for CANG?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/cang-vs-opln.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cang-vs-opln/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CANG correlations · OPLN correlations
