CRDO vs JNJ: Correlation
How closely do Credo Technology Group Holding Ltd (CRDO) and Johnson & Johnson (JNJ) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDO and JNJ?
On 3 years of weekly data the CRDO/JNJ correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.22 over 3. The 5-year figure is -0.17, and annualized covariance runs at -352.5 %².
Within CRDO's tracked universe of 20 assets, JNJ comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CRDO ahead by 42.0 points (+95.7% versus +53.7%). Note the risk asymmetry: CRDO runs 4.6 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.
CRDO vs JNJ: side by side
| CRDO (Credo Technology Group Holding Ltd) | JNJ (Johnson & Johnson) | |
|---|---|---|
| 1-year return | +95.7% | +53.7% |
| 5-year return | +1962.1% | +76.0% |
| Volatility (ann.) | 84.8% | 18.5% |
| Beta vs S&P 500 | 3.44 | 0.05 |
| Max drawdown (3Y) | -61.1% | -14.4% |
| Market cap | $45.1B | $640.5B |
| P/E (trailing) | 90.0 | 30.9 |
| Dividend yield | 0.00% | 1.94% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | CRDO | JNJ |
|---|---|---|
| 2022 | – | +6.0% |
| 2023 | +46.3% | -8.6% |
| 2024 | +245.2% | -4.8% |
| 2025 | +114.1% | +47.5% |
| 2026 | +67.0% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDO and JNJ good diversifiers for each other?
Yes. With a correlation of -0.22, CRDO and JNJ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRDO and JNJ?
The CRDO/JNJ correlation stands at -0.22 on a 3-year window (1 year: -0.28, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is JNJ a good diversifier for CRDO?
Yes. With a correlation of -0.22, CRDO and JNJ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/crdo-vs-jnj.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crdo-vs-jnj/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRDO correlations · JNJ correlations
