NAK vs OPEN: Correlation
Measured on weekly returns over the past three years, Northern Dynasty Minerals, Ltd. (NAK) and Opendoor Technologies Inc (OPEN) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAK and OPEN?
On 3 years of weekly data the NAK/OPEN correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.01) runs above the 3-year figure (-0.22). The 5-year figure is -0.09, and annualized covariance runs at -3140.8 %².
OPEN is close to the least connected end of NAK's tracked universe, ranking #9 of 12. Correlation aside, the last 12 months split them widely, with NAK ahead by 112.5 points (+96.6% versus -15.9%). One caveat on sizing: OPEN is 1.5 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.
NAK vs OPEN: side by side
| NAK (Northern Dynasty Minerals, Ltd.) | OPEN (Opendoor Technologies Inc) | |
|---|---|---|
| 1-year return | +96.6% | -15.9% |
| 5-year return | +326.8% | -80.8% |
| Volatility (ann.) | 96.9% | 145.6% |
| Beta vs S&P 500 | 1.03 | 2.46 |
| Max drawdown (3Y) | -67.8% | -89.2% |
| Market cap | $1.0B | $3.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAK | OPEN |
|---|---|---|
| 2022 | -33.3% | -92.1% |
| 2023 | +45.5% | +286.2% |
| 2024 | +81.2% | -64.3% |
| 2025 | +239.7% | +264.4% |
| 2026 | -11.2% | -42.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAK and OPEN good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NAK and OPEN?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with 0.01 over the last year and -0.09 over 5 years.
Is OPEN a good diversifier for NAK?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 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/nak-vs-open.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nak-vs-open/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NAK correlations · OPEN correlations
