JBTM vs TNL: Correlation
Measured on weekly returns over the past three years, JBT Marel Corporation (JBTM) and Travel Leisure Co. (TNL) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBTM and TNL?
On 3 years of weekly data the JBTM/TNL correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.52 over 3. The 5-year figure is 0.58, and annualized covariance runs at 554.4 %².
TNL is one of the assets that tracks JBTM most closely: it ranks #3 out of the 12 assets we track against JBTM. The last year tells two different stories: TNL led by 37.4 percentage points, -18.2% for JBTM against +19.2% for TNL.
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 TNL: side by side
| JBTM (JBT Marel Corporation) | TNL (Travel Leisure Co.) | |
|---|---|---|
| 1-year return | -18.2% | +19.2% |
| 5-year return | -18.0% | +59.9% |
| Volatility (ann.) | 35.7% | 30.1% |
| Beta vs S&P 500 | 0.79 | 1.19 |
| Max drawdown (3Y) | -32.2% | -32.2% |
| Market cap | $6.1B | $4.4B |
| P/E (trailing) | 32.3 | 19.9 |
| Dividend yield | 0.33% | 3.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JBTM | TNL |
|---|---|---|
| 2022 | -40.3% | -31.7% |
| 2023 | +9.3% | +12.5% |
| 2024 | +28.3% | +34.8% |
| 2025 | +18.9% | +45.5% |
| 2026 | -21.5% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBTM and TNL good diversifiers for each other?
Only partially. A correlation of 0.52 means JBTM and TNL 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 TNL?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.45 over the last year and 0.58 over 5 years.
Is TNL a good diversifier for JBTM?
Only partially. A correlation of 0.52 means JBTM and TNL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jbtm-vs-tnl.json
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[](https://www.pairbook.io/pair/jbtm-vs-tnl/)
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Related comparisons
Hubs: JBTM correlations · TNL correlations
