FRNM vs NJR: Correlation
Measured on weekly returns over the past three years, Freenome, Inc. (FRNM) and NewJersey Resources Corporation (NJR) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and NJR?
Over the past 3 years, FRNM and NJR moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.25). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -96.6 %².
By 3-year correlation, NJR places #25 of the 34 assets tracked against FRNM. On 12-month performance FRNM holds a 14.5-point edge, +32.3% against +17.8%.
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.
FRNM vs NJR: side by side
| FRNM (Freenome, Inc.) | NJR (NewJersey Resources Corporation) | |
|---|---|---|
| 1-year return | +32.3% | +17.8% |
| 5-year return | n/a | +74.0% |
| Volatility (ann.) | 21.1% | 18.2% |
| Beta vs S&P 500 | 0.03 | 0.06 |
| Max drawdown (3Y) | -29.6% | -12.9% |
| Market cap | $1.5B | $5.5B |
| P/E (trailing) | – | 15.1 |
| Dividend yield | 0.00% | 3.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRNM | NJR |
|---|---|---|
| 2022 | – | +24.9% |
| 2023 | – | -6.9% |
| 2024 | – | +8.7% |
| 2025 | +28.0% | +2.9% |
| 2026 | +7.0% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and NJR good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FRNM and NJR?
The FRNM/NJR correlation stands at -0.25 on a 3-year window (1 year: -0.37, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NJR a good diversifier for FRNM?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/frnm-vs-njr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/frnm-vs-njr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRNM correlations · NJR correlations
