JANX vs XEL: Correlation
Measured on weekly returns over the past three years, Janux Therapeutics, Inc. (JANX) and Xcel Energy (XEL) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JANX and XEL?
On 3 years of weekly data the JANX/XEL correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.30) than the 3-year average (-0.33). The 5-year figure is -0.21, and annualized covariance runs at -1006.7 %².
Out of 16 assets tracked against JANX, XEL lands near the bottom at #16. Their recent paths diverged sharply: over the last 12 months XEL outperformed by 28.8 percentage points (-19.6% for JANX against +9.2% for XEL). Risk is not evenly split, since JANX carries 7.1 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.
JANX vs XEL: side by side
| JANX (Janux Therapeutics, Inc.) | XEL (Xcel Energy) | |
|---|---|---|
| 1-year return | -19.6% | +9.2% |
| 5-year return | -42.6% | +31.1% |
| Volatility (ann.) | 148.0% | 20.7% |
| Beta vs S&P 500 | 1.76 | 0.09 |
| Max drawdown (3Y) | -81.8% | -24.0% |
| Market cap | $1.1B | $48.2B |
| P/E (trailing) | – | 21.3 |
| Dividend yield | 0.00% | 2.99% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | JANX | XEL |
|---|---|---|
| 2022 | -33.2% | +6.4% |
| 2023 | -18.5% | -8.7% |
| 2024 | +399.0% | +12.3% |
| 2025 | -74.2% | +13.9% |
| 2026 | +36.1% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JANX and XEL good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between JANX and XEL?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with 0.30 over the last year and -0.21 over 5 years.
Is XEL a good diversifier for JANX?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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/janx-vs-xel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/janx-vs-xel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JANX correlations · XEL correlations
