AVA vs NJR: Correlation
Avista Corporation (AVA) and NewJersey Resources Corporation (NJR) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVA and NJR?
On 3 years of weekly data the AVA/NJR correlation comes out at 0.71, strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 256.6 %².
Among the 20 assets we track against AVA, NJR ranks #4 by 3-year correlation. On 12-month performance NJR holds a 10.9-point edge, +6.9% against +17.8%.
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.
AVA vs NJR: side by side
| AVA (Avista Corporation) | NJR (NewJersey Resources Corporation) | |
|---|---|---|
| 1-year return | +6.9% | +17.8% |
| 5-year return | +15.3% | +74.0% |
| Volatility (ann.) | 19.8% | 18.2% |
| Beta vs S&P 500 | 0.05 | 0.06 |
| Max drawdown (3Y) | -14.0% | -12.9% |
| Market cap | $3.2B | $5.5B |
| P/E (trailing) | 13.8 | 15.1 |
| Dividend yield | 5.15% | 3.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVA | NJR |
|---|---|---|
| 2022 | +8.8% | +24.9% |
| 2023 | -15.3% | -6.9% |
| 2024 | +7.8% | +8.7% |
| 2025 | +10.7% | +2.9% |
| 2026 | +1.6% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVA and NJR good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVA and NJR?
As of 2026-08-27, the correlation of weekly returns between AVA and NJR is 0.71 over 3 years, 0.62 over 1 year and 0.74 over 5 years.
Is NJR a good diversifier for AVA?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 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/ava-vs-njr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ava-vs-njr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVA correlations · NJR correlations
