CNX vs JXG: Correlation
How closely do CNX Resources Corporation (CNX) and JX Luxventure Group Inc. (JXG) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNX and JXG?
Over the past 3 years, CNX and JXG moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -1194.9 %².
JXG is close to the least connected end of CNX's tracked universe, ranking #9 of 12. Correlation aside, the last 12 months split them widely, with CNX ahead by 66.0 points (+24.2% versus -41.8%). Risk is not evenly split, since JXG carries 5.7 times the volatility of the other side.
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.
CNX vs JXG: side by side
| CNX (CNX Resources Corporation) | JXG (JX Luxventure Group Inc.) | |
|---|---|---|
| 1-year return | +24.2% | -41.8% |
| 5-year return | +229.8% | -98.5% |
| Volatility (ann.) | 29.6% | 167.5% |
| Beta vs S&P 500 | 0.41 | -0.19 |
| Max drawdown (3Y) | -33.4% | -94.0% |
| Market cap | $5.3B | $0.1B |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNX | JXG |
|---|---|---|
| 2022 | +22.5% | -63.7% |
| 2023 | +18.8% | -83.8% |
| 2024 | +83.3% | -19.5% |
| 2025 | +0.3% | -62.6% |
| 2026 | -1.8% | +48.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNX and JXG good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between CNX and JXG?
As of 2026-08-27, the correlation of weekly returns between CNX and JXG is -0.24 over 3 years, -0.23 over 1 year and -0.05 over 5 years.
Is JXG a good diversifier for CNX?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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
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Related comparisons
Hubs: CNX correlations · JXG correlations
