JEF vs PIPR: Correlation
Measured on weekly returns over the past three years, Jefferies Financial Group Inc. (JEF) and Piper Sandler Companies (PIPR) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JEF and PIPR?
On 3 years of weekly data the JEF/PIPR correlation comes out at 0.70, strong. The link has loosened recently: the 1-year correlation (0.58) runs below the 3-year figure (0.70). The 5-year figure is 0.67, and annualized covariance runs at 923.3 %².
By 3-year correlation, PIPR places #5 of the 16 assets tracked against JEF. The trailing year gives PIPR the advantage: -15.9% versus -9.2%, a 6.7-point spread.
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.
JEF vs PIPR: side by side
| JEF (Jefferies Financial Group Inc.) | PIPR (Piper Sandler Companies) | |
|---|---|---|
| 1-year return | -15.9% | -9.2% |
| 5-year return | +73.8% | +143.0% |
| Volatility (ann.) | 39.3% | 33.6% |
| Beta vs S&P 500 | 1.57 | 1.35 |
| Max drawdown (3Y) | -54.4% | -38.8% |
| Market cap | $10.7B | $5.3B |
| P/E (trailing) | 14.8 | 17.3 |
| Dividend yield | 0.00% | 0.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JEF | PIPR |
|---|---|---|
| 2022 | -8.5% | -23.4% |
| 2023 | +27.7% | +37.8% |
| 2024 | +98.8% | +74.2% |
| 2025 | -18.8% | +15.5% |
| 2026 | -12.8% | -10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JEF and PIPR good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JEF and PIPR?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.58 over the last year and 0.67 over 5 years.
Is PIPR a good diversifier for JEF?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: JEF correlations · PIPR correlations
