CLRB vs JOF: Correlation
How closely do Cellectar Biosciences, Inc. (CLRB) and Japan Smaller Capitalization Fund Inc (JOF) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLRB and JOF?
On 3 years of weekly data the CLRB/JOF correlation comes out at 0.36, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.36 over 3. The 5-year figure is 0.35, and annualized covariance runs at 649.3 %².
JOF is one of the assets that tracks CLRB most closely: it ranks #3 out of the 10 assets we track against CLRB. The last year tells two different stories: JOF led by 80.3 percentage points, -47.3% for CLRB against +33.0% for JOF. Note the risk asymmetry: CLRB runs 5.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CLRB vs JOF: side by side
| CLRB (Cellectar Biosciences, Inc.) | JOF (Japan Smaller Capitalization Fund Inc) | |
|---|---|---|
| 1-year return | -47.3% | +33.0% |
| 5-year return | -99.1% | +81.0% |
| Volatility (ann.) | 97.2% | 18.6% |
| Beta vs S&P 500 | 1.43 | 0.74 |
| Max drawdown (3Y) | -98.2% | -17.2% |
| Market cap | – | – |
| P/E (trailing) | – | 2.5 |
| Dividend yield | 0.00% | 5.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLRB | JOF |
|---|---|---|
| 2022 | -74.1% | -17.1% |
| 2023 | +62.0% | +21.4% |
| 2024 | -89.2% | +5.3% |
| 2025 | -67.2% | +52.1% |
| 2026 | -13.9% | +20.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLRB and JOF good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLRB and JOF?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.36 over the last year and 0.35 over 5 years.
Is JOF a good diversifier for CLRB?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clrb-vs-jof.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clrb-vs-jof/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLRB correlations · JOF correlations
