CNTN vs JHX: Correlation
Canton Strategic Holdings, Inc. (CNTN) and James Hardie Industries plc. (JHX) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNTN and JHX?
Over the past 3 years, CNTN and JHX moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.31 over 3 years. Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -2610.0 %².
JHX is close to the least connected end of CNTN's tracked universe, ranking #10 of 11. Correlation aside, the last 12 months split them widely, with JHX ahead by 98.7 points (-52.6% versus +46.1%). Note the risk asymmetry: CNTN runs 3.9 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.
CNTN vs JHX: side by side
| CNTN (Canton Strategic Holdings, Inc.) | JHX (James Hardie Industries plc.) | |
|---|---|---|
| 1-year return | -52.6% | +46.1% |
| 5-year return | -99.8% | -21.2% |
| Volatility (ann.) | 182.3% | 46.3% |
| Beta vs S&P 500 | 0.52 | 1.43 |
| Max drawdown (3Y) | -99.0% | -60.3% |
| Market cap | $0.2B | $17.3B |
| P/E (trailing) | – | 135.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNTN | JHX |
|---|---|---|
| 2022 | – | -55.4% |
| 2023 | -94.8% | +115.6% |
| 2024 | -73.4% | -20.3% |
| 2025 | +49.3% | -32.7% |
| 2026 | -22.4% | +43.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNTN and JHX good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CNTN and JHX?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.20 over the last year and -0.21 over 5 years.
Is JHX a good diversifier for CNTN?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/cntn-vs-jhx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cntn-vs-jhx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNTN correlations · JHX correlations
