CAR vs OPY: Correlation
Measured on weekly returns over the past three years, Avis Budget Group, Inc. (CAR) and Oppenheimer Holdings, Inc. (OPY) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAR and OPY?
Over the past 3 years, CAR and OPY moved with a correlation of 0.43, which is moderate. The past 12 months show a tighter link (0.53) than the 3-year average (0.43). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 1166.7 %².
Among the 10 assets we track against CAR, OPY ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OPY outperformed by 83.0 percentage points (-11.1% for CAR against +71.9% for OPY). Risk is not evenly split, since CAR carries 3.0 times the volatility of the other side.
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.
CAR vs OPY: side by side
| CAR (Avis Budget Group, Inc.) | OPY (Oppenheimer Holdings, Inc.) | |
|---|---|---|
| 1-year return | -11.1% | +71.9% |
| 5-year return | +63.5% | +185.5% |
| Volatility (ann.) | 89.7% | 30.2% |
| Beta vs S&P 500 | 1.84 | 0.93 |
| Max drawdown (3Y) | -80.8% | -29.4% |
| Market cap | $4.9B | $1.3B |
| P/E (trailing) | – | 13.3 |
| Dividend yield | 0.00% | 0.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAR | OPY |
|---|---|---|
| 2022 | -20.9% | -7.2% |
| 2023 | +13.8% | -0.9% |
| 2024 | -54.5% | +57.3% |
| 2025 | +59.2% | +15.6% |
| 2026 | +8.7% | +67.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAR and OPY good diversifiers for each other?
Reasonably. At 0.43, CAR and OPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CAR and OPY?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.53 over the last year and 0.35 over 5 years.
Is OPY a good diversifier for CAR?
Reasonably. At 0.43, CAR and OPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/car-vs-opy.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAR correlations · OPY correlations
