OLP vs TAP: Correlation
One Liberty Properties, Inc. (OLP) and Molson Coors Beverage Company (TAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLP and TAP?
On 3 years of weekly data the OLP/TAP correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.45 over 3. The 5-year figure is 0.38, and annualized covariance runs at 233.0 %².
Within OLP's tracked universe of 28 assets, TAP comes in at #18 by 3-year correlation. The last year tells two different stories: OLP led by 28.0 percentage points, +13.0% for OLP against -15.0% for TAP.
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.
OLP vs TAP: side by side
| OLP (One Liberty Properties, Inc.) | TAP (Molson Coors Beverage Company) | |
|---|---|---|
| 1-year return | +13.0% | -15.0% |
| 5-year return | +11.9% | +3.9% |
| Volatility (ann.) | 21.5% | 23.9% |
| Beta vs S&P 500 | 0.49 | 0.15 |
| Max drawdown (3Y) | -28.8% | -38.8% |
| Market cap | $0.5B | $7.8B |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 7.44% | 4.51% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | OLP | TAP |
|---|---|---|
| 2022 | -32.3% | +14.4% |
| 2023 | +7.6% | +22.2% |
| 2024 | +33.5% | -3.4% |
| 2025 | -19.6% | -15.5% |
| 2026 | +23.7% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLP and TAP good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OLP and TAP?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.47 over the last year and 0.38 over 5 years.
Is TAP a good diversifier for OLP?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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/olp-vs-tap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/olp-vs-tap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OLP correlations · TAP correlations
