EDSA vs OPCH: Correlation
Edesa Biotech, Inc. (EDSA) and Option Care Health, Inc. (OPCH) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDSA and OPCH?
Over the past 3 years, EDSA and OPCH moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.53 versus -0.26 over 3 years. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -1863.0 %².
By 3-year correlation, OPCH places #25 of the 30 assets tracked against EDSA. The last year tells two different stories: EDSA led by 107.8 percentage points, +91.7% for EDSA against -16.1% for OPCH. Note the risk asymmetry: EDSA runs 5.1 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.
EDSA vs OPCH: side by side
| EDSA (Edesa Biotech, Inc.) | OPCH (Option Care Health, Inc.) | |
|---|---|---|
| 1-year return | +91.7% | -16.1% |
| 5-year return | -87.4% | -8.7% |
| Volatility (ann.) | 190.4% | 37.1% |
| Beta vs S&P 500 | -0.03 | 0.56 |
| Max drawdown (3Y) | -87.3% | -46.7% |
| Market cap | – | $3.6B |
| P/E (trailing) | – | 18.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDSA | OPCH |
|---|---|---|
| 2022 | -61.6% | +5.8% |
| 2023 | -69.8% | +12.0% |
| 2024 | -63.2% | -31.1% |
| 2025 | -15.5% | +37.3% |
| 2026 | +223.9% | -24.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and OPCH good diversifiers for each other?
Yes. With a correlation of -0.26, EDSA and OPCH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EDSA and OPCH?
As of 2026-08-27, the correlation of weekly returns between EDSA and OPCH is -0.26 over 3 years, -0.53 over 1 year and -0.16 over 5 years.
Is OPCH a good diversifier for EDSA?
Yes. With a correlation of -0.26, EDSA and OPCH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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/edsa-vs-opch.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/edsa-vs-opch/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EDSA correlations · OPCH correlations
