JBTM vs MIDD: Correlation
Measured on weekly returns over the past three years, JBT Marel Corporation (JBTM) and The Middleby Corporation (MIDD) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBTM and MIDD?
On 3 years of weekly data the JBTM/MIDD correlation comes out at 0.53, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.64 versus 0.53 over 3 years. The 5-year figure is 0.59, and annualized covariance runs at 677.2 %².
Few assets follow JBTM as closely as MIDD, which ranks #1 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months MIDD outperformed by 20.7 percentage points (-18.2% for JBTM against +2.5% for MIDD).
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.
JBTM vs MIDD: side by side
| JBTM (JBT Marel Corporation) | MIDD (The Middleby Corporation) | |
|---|---|---|
| 1-year return | -18.2% | +2.5% |
| 5-year return | -18.0% | -24.2% |
| Volatility (ann.) | 35.7% | 36.0% |
| Beta vs S&P 500 | 0.79 | 1.04 |
| Max drawdown (3Y) | -32.2% | -35.4% |
| Market cap | $6.1B | $5.1B |
| P/E (trailing) | 32.3 | 17.3 |
| Dividend yield | 0.33% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JBTM | MIDD |
|---|---|---|
| 2022 | -40.3% | -31.9% |
| 2023 | +9.3% | +9.9% |
| 2024 | +28.3% | -8.0% |
| 2025 | +18.9% | +9.8% |
| 2026 | -21.5% | -5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBTM and MIDD good diversifiers for each other?
Only partially. A correlation of 0.53 means JBTM and MIDD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between JBTM and MIDD?
As of 2026-08-27, the correlation of weekly returns between JBTM and MIDD is 0.53 over 3 years, 0.64 over 1 year and 0.59 over 5 years.
Is MIDD a good diversifier for JBTM?
Only partially. A correlation of 0.53 means JBTM and MIDD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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/jbtm-vs-midd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jbtm-vs-midd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JBTM correlations · MIDD correlations
