ORLY vs TAN: Correlation
How closely do O'Reilly Automotive (ORLY) and Invesco Solar ETF (TAN) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORLY and TAN?
On 3 years of weekly data the ORLY/TAN correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. The 5-year figure is -0.05, and annualized covariance runs at -142.5 %².
Within ORLY's tracked universe of 29 assets, TAN comes in at #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TAN outperformed by 37.0 percentage points (-15.6% for ORLY against +21.4% for TAN). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.30 to 0.26. One caveat on sizing: TAN is 1.9 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.
ORLY vs TAN: side by side
| ORLY (O'Reilly Automotive) | TAN (Invesco Solar ETF) | |
|---|---|---|
| 1-year return | -15.6% | +21.4% |
| 5-year return | +120.8% | -41.9% |
| Volatility (ann.) | 19.8% | 37.4% |
| Beta vs S&P 500 | 0.20 | 1.04 |
| Max drawdown (3Y) | -23.3% | -55.4% |
| Market cap | $71.1B | – |
| P/E (trailing) | 28.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Consumer Discretionary | ETF · Thematic |
Year-by-year returns
| Year | ORLY | TAN |
|---|---|---|
| 2022 | +19.5% | -5.2% |
| 2023 | +12.6% | -26.8% |
| 2024 | +24.8% | -37.6% |
| 2025 | +15.4% | +48.3% |
| 2026 | -3.7% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORLY and TAN good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between ORLY and TAN?
As of 2026-08-27, the correlation of weekly returns between ORLY and TAN is -0.19 over 3 years, -0.26 over 1 year and -0.05 over 5 years.
Is TAN a good diversifier for ORLY?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/orly-vs-tan.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/orly-vs-tan/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ORLY correlations · TAN correlations
