ACNT vs JOF: Correlation
Measured on weekly returns over the past three years, Ascent Industries Co. (ACNT) and Japan Smaller Capitalization Fund Inc (JOF) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACNT and JOF?
On 3 years of weekly data the ACNT/JOF correlation comes out at 0.31, moderate. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.31). The 5-year figure is 0.21, and annualized covariance runs at 179.8 %².
Few assets follow ACNT as closely as JOF, which ranks #3 of 16 tracked partners. Twelve-month performance is nearly a tie, at +31.0% for ACNT and +33.0% for JOF. Risk is not evenly split, since ACNT carries 1.7 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.
ACNT vs JOF: side by side
| ACNT (Ascent Industries Co.) | JOF (Japan Smaller Capitalization Fund Inc) | |
|---|---|---|
| 1-year return | +31.0% | +33.0% |
| 5-year return | +37.0% | +81.0% |
| Volatility (ann.) | 31.2% | 18.6% |
| Beta vs S&P 500 | 0.09 | 0.74 |
| Max drawdown (3Y) | -31.8% | -17.2% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 2.5 |
| Dividend yield | 0.00% | 5.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACNT | JOF |
|---|---|---|
| 2022 | -47.2% | -17.1% |
| 2023 | +10.3% | +21.4% |
| 2024 | +16.9% | +5.3% |
| 2025 | +44.8% | +52.1% |
| 2026 | -2.4% | +20.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACNT and JOF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ACNT and JOF?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.45 over the last year and 0.21 over 5 years.
Is JOF a good diversifier for ACNT?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 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.
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Related comparisons
Hubs: ACNT correlations · JOF correlations
