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AWK vs JBL: Correlation

American Water Works (AWK) and Jabil (JBL) show a negative relationship: their 3-year correlation of weekly returns is -0.20.

Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology

Correlation (3Y)
-0.20
negative
Correlation (1Y)
-0.22
last 12 months
Correlation (5Y)
-0.03
long-run
Ann. covariance
-168.8
%² · weekly, annualized

How correlated are AWK and JBL?

On 3 years of weekly data the AWK/JBL correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.20 over 3. The 5-year figure is -0.03, and annualized covariance runs at -168.8 %².

Within AWK's tracked universe of 49 assets, JBL comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with JBL ahead by 53.4 points (-3.0% versus +50.4%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.48 and 0.11 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: JBL runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.

+1.0+0.50-0.5-1.020232026-08-27
How the one-year correlation itself moved over the past three years.
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.

AWK vs JBL: side by side

AWK (American Water Works)JBL (Jabil)
1-year return-3.0%+50.4%
5-year return-16.6%+405.5%
Volatility (ann.)20.7%40.6%
Beta vs S&P 500-0.111.47
Max drawdown (3Y)-18.8%-36.8%
Market cap$27.2B$32.7B
P/E (trailing)23.738.9
Dividend yield2.46%0.10%
Sector / categoryUtilitiesInformation Technology
Lower P/E: AWK 23.7 vs 38.9Higher yield: AWK 2.46% vs 0.10%Smaller drawdown: AWK -18.8% vs -36.8%Higher 5y return: JBL +405.5% vs -16.6%
-13%0%+83%2025-09-052026-08-27
Price paths over the last 12 months, both indexed to 100 at the start (weekly closes). ■ AWK · ■ JBL

Year-by-year returns

YearAWKJBL
2022-17.9%-2.5%
2023-11.7%+87.4%
2024-3.5%+13.3%
2025+7.4%+58.7%
2026+6.9%+37.0%

Calendar-year price returns; the current year is year-to-date as of the data date above.

Are AWK and JBL good diversifiers for each other?

By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.

FAQ

What is the correlation between AWK and JBL?

The AWK/JBL correlation stands at -0.20 on a 3-year window (1 year: -0.22, 5 years: -0.03), computed from weekly returns as of 2026-08-27.

Is JBL a good diversifier for AWK?

By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.

What does a correlation of -0.20 mean?

A reading of -0.20 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

JSON API · no key required
$ curl https://www.pairbook.io/api/v1/pairs/awk-vs-jbl.json

AWK vs JBL: 3-year weekly correlation -0.20AWK vs JBL-0.20

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Related comparisons

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Hubs: AWK correlations · JBL correlations