APVO vs JL: Correlation
Aptevo Therapeutics Inc. (APVO) and J-Long Group Limited - Class A (JL) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APVO and JL?
Across a 3-year window, the weekly returns of APVO and JL correlate at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.05 versus -0.26 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -19162.5 %².
JL is close to the least connected end of APVO's tracked universe, ranking #11 of 12. Correlation aside, the last 12 months split them widely, with JL ahead by 76.1 points (-92.5% versus -16.4%). One caveat on sizing: JL is 4.8 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.
APVO vs JL: side by side
| APVO (Aptevo Therapeutics Inc.) | JL (J-Long Group Limited - Class A) | |
|---|---|---|
| 1-year return | -92.5% | -16.4% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 121.4% | 580.0% |
| Beta vs S&P 500 | 0.17 | -1.02 |
| Max drawdown (3Y) | -100.0% | -98.6% |
| Market cap | – | – |
| P/E (trailing) | 0.0 | 6.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APVO | JL |
|---|---|---|
| 2022 | -70.5% | – |
| 2023 | -92.2% | – |
| 2024 | -98.5% | – |
| 2025 | -99.4% | +67.1% |
| 2026 | -74.3% | -20.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APVO and JL good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between APVO and JL?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with 0.05 over the last year and n/a over 5 years.
Is JL a good diversifier for APVO?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 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/apvo-vs-jl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apvo-vs-jl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APVO correlations · JL correlations
