OPAL vs REZI: Correlation
How closely do OPAL Fuels Inc. (OPAL) and Resideo Technologies, Inc. (REZI) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPAL and REZI?
Over the past 3 years, OPAL and REZI moved with a correlation of 0.38, which is moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 1147.9 %².
In OPAL's tracked universe of 11 assets, REZI sits right near the top at #2. Over the last 12 months OPAL came out ahead by 9.5 percentage points (-7.8% against -17.3%).
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.
OPAL vs REZI: side by side
| OPAL (OPAL Fuels Inc.) | REZI (Resideo Technologies, Inc.) | |
|---|---|---|
| 1-year return | -7.8% | -17.3% |
| 5-year return | -77.9% | -11.7% |
| Volatility (ann.) | 61.5% | 48.9% |
| Beta vs S&P 500 | 1.19 | 1.58 |
| Max drawdown (3Y) | -84.1% | -47.1% |
| Market cap | $0.4B | $3.0B |
| P/E (trailing) | – | 7.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OPAL | REZI |
|---|---|---|
| 2022 | -27.1% | -36.8% |
| 2023 | -24.2% | +14.4% |
| 2024 | -38.6% | +22.5% |
| 2025 | -30.5% | +52.4% |
| 2026 | -9.6% | -18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPAL and REZI good diversifiers for each other?
Reasonably. At 0.38, OPAL and REZI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OPAL and REZI?
As of 2026-08-27, the correlation of weekly returns between OPAL and REZI is 0.38 over 3 years, 0.38 over 1 year and 0.27 over 5 years.
Is REZI a good diversifier for OPAL?
Reasonably. At 0.38, OPAL and REZI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 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/opal-vs-rezi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/opal-vs-rezi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OPAL correlations · REZI correlations
