HON vs OPAD: Correlation
Honeywell Technologies (HON) and Offerpad Solutions Inc. (OPAD) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HON and OPAD?
Over the past 3 years, HON and OPAD moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.20). Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -2057.4 %².
Among the 32 assets we track against HON, OPAD ranks #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OPAD outperformed by 30.6 percentage points (+2.7% for HON against +33.3% for OPAD). One caveat on sizing: OPAD is 19.0 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.
HON vs OPAD: side by side
| HON (Honeywell Technologies) | OPAD (Offerpad Solutions Inc.) | |
|---|---|---|
| 1-year return | +2.7% | +33.3% |
| 5-year return | +6.6% | -96.7% |
| Volatility (ann.) | 23.2% | 440.7% |
| Beta vs S&P 500 | 0.74 | -1.25 |
| Max drawdown (3Y) | -22.1% | -95.6% |
| Market cap | $69.9B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 4.26% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | HON | OPAD |
|---|---|---|
| 2022 | +4.9% | -92.8% |
| 2023 | +0.0% | +48.2% |
| 2024 | +10.0% | -72.2% |
| 2025 | -6.4% | -57.5% |
| 2026 | +9.2% | +270.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HON and OPAD good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HON and OPAD?
The HON/OPAD correlation stands at -0.20 on a 3-year window (1 year: -0.36, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is OPAD a good diversifier for HON?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 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/hon-vs-opad.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hon-vs-opad/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HON correlations · OPAD correlations
