HERZ vs JAZZ: Correlation
Herzfeld Credit Income Fund, Inc. - Closed End Fund (HERZ) and Jazz Pharmaceuticals plc (JAZZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HERZ and JAZZ?
Over the past 3 years, HERZ and JAZZ moved with a correlation of 0.36, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.61 versus 0.36 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 436.0 %².
Among the 19 assets we track against HERZ, JAZZ ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months JAZZ outperformed by 79.8 percentage points (+22.0% for HERZ against +101.8% for JAZZ).
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.
HERZ vs JAZZ: side by side
| HERZ (Herzfeld Credit Income Fund, Inc. - Closed End Fund) | JAZZ (Jazz Pharmaceuticals plc) | |
|---|---|---|
| 1-year return | +22.0% | +101.8% |
| 5-year return | +1.5% | +90.9% |
| Volatility (ann.) | 35.4% | 34.6% |
| Beta vs S&P 500 | 0.10 | 0.60 |
| Max drawdown (3Y) | -41.6% | -32.7% |
| Market cap | – | $16.3B |
| P/E (trailing) | 80.0 | 17.2 |
| Dividend yield | 57.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HERZ | JAZZ |
|---|---|---|
| 2022 | -20.4% | +25.0% |
| 2023 | -13.6% | -22.8% |
| 2024 | +2.9% | +0.1% |
| 2025 | +89.3% | +38.0% |
| 2026 | -24.3% | +47.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HERZ and JAZZ good diversifiers for each other?
Reasonably. At 0.36, HERZ and JAZZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HERZ and JAZZ?
As of 2026-08-27, the correlation of weekly returns between HERZ and JAZZ is 0.36 over 3 years, 0.61 over 1 year and 0.36 over 5 years.
Is JAZZ a good diversifier for HERZ?
Reasonably. At 0.36, HERZ and JAZZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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.
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Related comparisons
Hubs: HERZ correlations · JAZZ correlations
