OPCH vs TELA: Correlation
How closely do Option Care Health, Inc. (OPCH) and TELA Bio, Inc. (TELA) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPCH and TELA?
On 3 years of weekly data the OPCH/TELA correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.40) runs below the 3-year figure (-0.21). The 5-year figure is -0.13, and annualized covariance runs at -584.7 %².
TELA is close to the least connected end of OPCH's tracked universe, ranking #12 of 15. The last year tells two different stories: OPCH led by 47.0 percentage points, -16.1% for OPCH against -63.1% for TELA. Risk is not evenly split, since TELA carries 2.0 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.
OPCH vs TELA: side by side
| OPCH (Option Care Health, Inc.) | TELA (TELA Bio, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | -63.1% |
| 5-year return | -8.7% | -95.2% |
| Volatility (ann.) | 37.1% | 75.9% |
| Beta vs S&P 500 | 0.56 | 0.88 |
| Max drawdown (3Y) | -46.7% | -94.2% |
| Market cap | $3.6B | – |
| P/E (trailing) | 18.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OPCH | TELA |
|---|---|---|
| 2022 | +5.8% | -10.2% |
| 2023 | +12.0% | -42.4% |
| 2024 | -31.1% | -54.4% |
| 2025 | +37.3% | -60.9% |
| 2026 | -24.7% | -44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPCH and TELA good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OPCH and TELA?
As of 2026-08-27, the correlation of weekly returns between OPCH and TELA is -0.21 over 3 years, -0.40 over 1 year and -0.13 over 5 years.
Is TELA a good diversifier for OPCH?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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/opch-vs-tela.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/opch-vs-tela/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OPCH correlations · TELA correlations
