HRTX vs OPAD: Correlation
Heron Therapeutics, Inc. (HRTX) and Offerpad Solutions Inc. (OPAD) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRTX and OPAD?
On 3 years of weekly data the HRTX/OPAD correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.55 versus -0.24 over 3 years. The 5-year figure is -0.14, and annualized covariance runs at -10618.2 %².
OPAD is close to the least connected end of HRTX's tracked universe, ranking #11 of 12. Correlation aside, the last 12 months split them widely, with OPAD ahead by 108.9 points (-75.6% versus +33.3%). Risk is not evenly split, since OPAD carries 4.5 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.
HRTX vs OPAD: side by side
| HRTX (Heron Therapeutics, Inc.) | OPAD (Offerpad Solutions Inc.) | |
|---|---|---|
| 1-year return | -75.6% | +33.3% |
| 5-year return | -97.1% | -96.7% |
| Volatility (ann.) | 99.0% | 440.7% |
| Beta vs S&P 500 | 1.84 | -1.25 |
| Max drawdown (3Y) | -92.2% | -95.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRTX | OPAD |
|---|---|---|
| 2022 | -72.6% | -92.8% |
| 2023 | -32.0% | +48.2% |
| 2024 | -10.0% | -72.2% |
| 2025 | -15.0% | -57.5% |
| 2026 | -74.5% | +270.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRTX and OPAD good diversifiers for each other?
Yes. With a correlation of -0.24, HRTX and OPAD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HRTX and OPAD?
As of 2026-08-27, the correlation of weekly returns between HRTX and OPAD is -0.24 over 3 years, -0.55 over 1 year and -0.14 over 5 years.
Is OPAD a good diversifier for HRTX?
Yes. With a correlation of -0.24, HRTX and OPAD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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/hrtx-vs-opad.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hrtx-vs-opad/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HRTX correlations · OPAD correlations
