CARG vs OPFI: Correlation
Measured on weekly returns over the past three years, CarGurus, Inc. (CARG) and OppFi Inc. (OPFI) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARG and OPFI?
On 3 years of weekly data the CARG/OPFI correlation comes out at 0.42, moderate. The past 12 months show a tighter link (0.54) than the 3-year average (0.42). The 5-year figure is 0.33, and annualized covariance runs at 1142.3 %².
Within CARG's tracked universe of 17 assets, OPFI comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CARG outperformed by 35.7 percentage points (+6.1% for CARG against -29.6% for OPFI). Note the risk asymmetry: OPFI runs 1.7 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.
CARG vs OPFI: side by side
| CARG (CarGurus, Inc.) | OPFI (OppFi Inc.) | |
|---|---|---|
| 1-year return | +6.1% | -29.6% |
| 5-year return | +17.1% | -1.0% |
| Volatility (ann.) | 39.4% | 68.6% |
| Beta vs S&P 500 | 1.12 | 1.38 |
| Max drawdown (3Y) | -37.9% | -59.9% |
| Market cap | $3.2B | $0.6B |
| P/E (trailing) | 18.6 | 2.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CARG | OPFI |
|---|---|---|
| 2022 | -58.4% | -54.8% |
| 2023 | +72.4% | +149.8% |
| 2024 | +51.2% | +56.0% |
| 2025 | +5.0% | +40.9% |
| 2026 | -5.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARG and OPFI good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CARG and OPFI?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.54 over the last year and 0.33 over 5 years.
Is OPFI a good diversifier for CARG?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 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/carg-vs-opfi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/carg-vs-opfi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CARG correlations · OPFI correlations
