FTS vs JL: Correlation
How closely do Fortis Inc. (FTS) and J-Long Group Limited - Class A (JL) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTS and JL?
Across a 3-year window, the weekly returns of FTS and JL correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.11 versus -0.23 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -1786.8 %².
Out of 14 assets tracked against FTS, JL lands near the bottom at #13. The last year tells two different stories: FTS led by 28.8 percentage points, +12.4% for FTS against -16.4% for JL. Risk is not evenly split, since JL carries 39.7 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.
FTS vs JL: side by side
| FTS (Fortis Inc.) | JL (J-Long Group Limited - Class A) | |
|---|---|---|
| 1-year return | +12.4% | -16.4% |
| 5-year return | +43.4% | n/a |
| Volatility (ann.) | 14.6% | 580.0% |
| Beta vs S&P 500 | 0.04 | -1.02 |
| Max drawdown (3Y) | -11.6% | -98.6% |
| Market cap | $28.0B | – |
| P/E (trailing) | 22.5 | 6.5 |
| Dividend yield | 4.58% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTS | JL |
|---|---|---|
| 2022 | -13.9% | – |
| 2023 | +7.0% | – |
| 2024 | +5.4% | – |
| 2025 | +28.5% | +67.1% |
| 2026 | +8.3% | -20.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTS and JL good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FTS and JL?
As of 2026-08-27, the correlation of weekly returns between FTS and JL is -0.23 over 3 years, 0.11 over 1 year and n/a over 5 years.
Is JL a good diversifier for FTS?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 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/fts-vs-jl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fts-vs-jl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FTS correlations · JL correlations
