CVS vs JL: Correlation
Measured on weekly returns over the past three years, CVS Health (CVS) and J-Long Group Limited - Class A (JL) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVS and JL?
On 3 years of weekly data the CVS/JL correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.06) runs above the 3-year figure (-0.19). The 5-year figure is n/a, and annualized covariance runs at -3952.9 %².
By 3-year correlation, JL places #26 of the 32 assets tracked against CVS. Their recent paths diverged sharply: over the last 12 months CVS outperformed by 49.7 percentage points (+33.3% for CVS against -16.4% for JL). One caveat on sizing: JL is 16.9 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.
CVS vs JL: side by side
| CVS (CVS Health) | JL (J-Long Group Limited - Class A) | |
|---|---|---|
| 1-year return | +33.3% | -16.4% |
| 5-year return | +29.6% | n/a |
| Volatility (ann.) | 34.4% | 580.0% |
| Beta vs S&P 500 | 0.40 | -1.02 |
| Max drawdown (3Y) | -44.0% | -98.6% |
| Market cap | $118.8B | – |
| P/E (trailing) | 24.8 | 6.5 |
| Dividend yield | 2.82% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CVS | JL |
|---|---|---|
| 2022 | -7.6% | – |
| 2023 | -12.5% | – |
| 2024 | -40.8% | – |
| 2025 | +84.3% | +67.1% |
| 2026 | +19.8% | -20.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVS and JL good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between CVS and JL?
The CVS/JL correlation stands at -0.19 on a 3-year window (1 year: -0.06, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is JL a good diversifier for CVS?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 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
$ curl https://www.pairbook.io/api/v1/pairs/cvs-vs-jl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cvs-vs-jl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVS correlations · JL correlations
