OPEN vs PEW: Correlation
Opendoor Technologies Inc (OPEN) and GrabAGun Digital Holdings Inc. (PEW) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPEN and PEW?
On 3 years of weekly data the OPEN/PEW correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.35) than the 3-year average (-0.33). The 5-year figure is n/a, and annualized covariance runs at -2588.1 %².
Out of 18 assets tracked against OPEN, PEW lands near the bottom at #18. Their recent paths diverged sharply: over the last 12 months OPEN outperformed by 41.2 percentage points (-15.9% for OPEN against -57.1% for PEW). One caveat on sizing: OPEN is 2.8 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.
OPEN vs PEW: side by side
| OPEN (Opendoor Technologies Inc) | PEW (GrabAGun Digital Holdings Inc.) | |
|---|---|---|
| 1-year return | -15.9% | -57.1% |
| 5-year return | -80.8% | n/a |
| Volatility (ann.) | 145.6% | 51.2% |
| Beta vs S&P 500 | 2.46 | 0.44 |
| Max drawdown (3Y) | -89.2% | -86.8% |
| Market cap | $3.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OPEN | PEW |
|---|---|---|
| 2022 | -92.1% | – |
| 2023 | +286.2% | – |
| 2024 | -64.3% | – |
| 2025 | +264.4% | -74.4% |
| 2026 | -42.0% | -21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPEN and PEW good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OPEN and PEW?
The OPEN/PEW correlation stands at -0.33 on a 3-year window (1 year: 0.35, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PEW a good diversifier for OPEN?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/open-vs-pew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/open-vs-pew/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OPEN correlations · PEW correlations
