AGX vs JKHY: Correlation
How closely do Argan, Inc. (AGX) and Jack Henry & Associates (JKHY) 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 AGX and JKHY?
Over the past 3 years, AGX and JKHY moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.21 over 3 years. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -272.5 %².
Out of 11 assets tracked against AGX, JKHY lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months AGX outperformed by 97.9 percentage points (+103.7% for AGX against +5.8% for JKHY). One caveat on sizing: AGX is 2.4 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.
AGX vs JKHY: side by side
| AGX (Argan, Inc.) | JKHY (Jack Henry & Associates) | |
|---|---|---|
| 1-year return | +103.7% | +5.8% |
| 5-year return | +1008.1% | +2.6% |
| Volatility (ann.) | 55.9% | 23.0% |
| Beta vs S&P 500 | 0.92 | 0.21 |
| Max drawdown (3Y) | -43.7% | -35.4% |
| Market cap | $6.4B | $12.1B |
| P/E (trailing) | 40.4 | 24.7 |
| Dividend yield | 0.41% | 1.38% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | AGX | JKHY |
|---|---|---|
| 2022 | -2.0% | +6.2% |
| 2023 | +30.2% | -5.7% |
| 2024 | +198.3% | +8.7% |
| 2025 | +130.6% | +5.5% |
| 2026 | +47.2% | -6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGX and JKHY good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between AGX and JKHY?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.42 over the last year and -0.07 over 5 years.
Is JKHY a good diversifier for AGX?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/agx-vs-jkhy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/agx-vs-jkhy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AGX correlations · JKHY correlations
