IIPR vs OPTX: Correlation
Measured on weekly returns over the past three years, Innovative Industrial Properties, Inc. (IIPR) and Syntec Optics Holdings, Inc. (OPTX) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IIPR and OPTX?
On 3 years of weekly data the IIPR/OPTX correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.06 versus -0.30 over 3 years. The 5-year figure is -0.23, and annualized covariance runs at -2255.8 %².
OPTX is close to the least connected end of IIPR's tracked universe, ranking #16 of 19. Their recent paths diverged sharply: over the last 12 months OPTX outperformed by 434.1 percentage points (+15.0% for IIPR against +449.1% for OPTX). Note the risk asymmetry: OPTX runs 4.8 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.
IIPR vs OPTX: side by side
| IIPR (Innovative Industrial Properties, Inc.) | OPTX (Syntec Optics Holdings, Inc.) | |
|---|---|---|
| 1-year return | +15.0% | +449.1% |
| 5-year return | -63.8% | -11.3% |
| Volatility (ann.) | 39.6% | 192.0% |
| Beta vs S&P 500 | 0.85 | 1.00 |
| Max drawdown (3Y) | -62.9% | -93.0% |
| Market cap | $1.6B | $0.4B |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 13.32% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IIPR | OPTX |
|---|---|---|
| 2022 | -59.0% | – |
| 2023 | +8.8% | -49.7% |
| 2024 | -28.5% | -49.9% |
| 2025 | -18.4% | +13.5% |
| 2026 | +27.6% | +205.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IIPR and OPTX good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between IIPR and OPTX?
The IIPR/OPTX correlation stands at -0.30 on a 3-year window (1 year: 0.06, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is OPTX a good diversifier for IIPR?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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/iipr-vs-optx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iipr-vs-optx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IIPR correlations · OPTX correlations
