CRM vs NJR: Correlation
Measured on weekly returns over the past three years, Salesforce (CRM) and NewJersey Resources Corporation (NJR) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRM and NJR?
Over the past 3 years, CRM and NJR moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.54 versus -0.23 over 3 years. Over 5 years the correlation is -0.00, and the annualized covariance of weekly returns is -155.3 %².
Among the 68 assets we track against CRM, NJR ranks #59 by 3-year correlation. The last year tells two different stories: NJR led by 16.2 percentage points, +1.6% for CRM against +17.8% for NJR. One caveat on sizing: CRM is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CRM vs NJR: side by side
| CRM (Salesforce) | NJR (NewJersey Resources Corporation) | |
|---|---|---|
| 1-year return | +1.6% | +17.8% |
| 5-year return | -3.2% | +74.0% |
| Volatility (ann.) | 37.6% | 18.2% |
| Beta vs S&P 500 | 1.21 | 0.06 |
| Max drawdown (3Y) | -58.7% | -12.9% |
| Market cap | $207.4B | $5.5B |
| P/E (trailing) | 18.8 | 15.1 |
| Dividend yield | 0.00% | 3.49% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CRM | NJR |
|---|---|---|
| 2022 | -47.8% | +24.9% |
| 2023 | +98.5% | -6.9% |
| 2024 | +27.8% | +8.7% |
| 2025 | -20.2% | +2.9% |
| 2026 | -4.4% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRM and NJR good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CRM and NJR?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.54 over the last year and -0.00 over 5 years.
Is NJR a good diversifier for CRM?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crm-vs-njr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crm-vs-njr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRM correlations · NJR correlations
