HZO vs JWEL: Correlation
How closely do MarineMax, Inc. (FL) (HZO) and Jowell Global Ltd. (JWEL) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HZO and JWEL?
On 3 years of weekly data the HZO/JWEL correlation comes out at 0.41, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.60 versus 0.41 over 3 years. The 5-year figure is 0.26, and annualized covariance runs at 2856.3 %².
By 3-year correlation, JWEL places #10 of the 16 assets tracked against HZO. The last year tells two different stories: HZO led by 65.2 percentage points, +86.8% for HZO against +21.6% for JWEL. Note the risk asymmetry: JWEL runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HZO vs JWEL: side by side
| HZO (MarineMax, Inc. (FL)) | JWEL (Jowell Global Ltd.) | |
|---|---|---|
| 1-year return | +86.8% | +21.6% |
| 5-year return | +5.1% | -97.2% |
| Volatility (ann.) | 57.2% | 122.5% |
| Beta vs S&P 500 | 1.70 | 1.34 |
| Max drawdown (3Y) | -55.0% | -81.0% |
| Market cap | $1.2B | – |
| P/E (trailing) | 326.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HZO | JWEL |
|---|---|---|
| 2022 | -47.1% | -98.1% |
| 2023 | +24.6% | -67.8% |
| 2024 | -25.6% | +44.9% |
| 2025 | -16.3% | -25.8% |
| 2026 | +115.4% | +2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HZO and JWEL good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HZO and JWEL?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.60 over the last year and 0.26 over 5 years.
Is JWEL a good diversifier for HZO?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 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/hzo-vs-jwel.json
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Related comparisons
Hubs: HZO correlations · JWEL correlations
