ANDE vs NJR: Correlation
The Andersons, Inc. (ANDE) and NewJersey Resources Corporation (NJR) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANDE and NJR?
On 3 years of weekly data the ANDE/NJR correlation comes out at 0.49, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.49 over 3. The 5-year figure is 0.36, and annualized covariance runs at 293.1 %².
Within ANDE's tracked universe of 14 assets, NJR comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ANDE ahead by 41.1 points (+58.9% versus +17.8%). Risk is not evenly split, since ANDE carries 1.8 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.
ANDE vs NJR: side by side
| ANDE (The Andersons, Inc.) | NJR (NewJersey Resources Corporation) | |
|---|---|---|
| 1-year return | +58.9% | +17.8% |
| 5-year return | +128.7% | +74.0% |
| Volatility (ann.) | 33.1% | 18.2% |
| Beta vs S&P 500 | 0.26 | 0.06 |
| Max drawdown (3Y) | -46.9% | -12.9% |
| Market cap | $2.2B | $5.5B |
| P/E (trailing) | 12.6 | 15.1 |
| Dividend yield | 1.21% | 3.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANDE | NJR |
|---|---|---|
| 2022 | -7.8% | +24.9% |
| 2023 | +67.0% | -6.9% |
| 2024 | -28.8% | +8.7% |
| 2025 | +33.8% | +2.9% |
| 2026 | +21.0% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANDE and NJR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ANDE and NJR?
The ANDE/NJR correlation stands at 0.49 on a 3-year window (1 year: 0.53, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is NJR a good diversifier for ANDE?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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/ande-vs-njr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ande-vs-njr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ANDE correlations · NJR correlations
