JL vs NDSN: Correlation
J-Long Group Limited - Class A (JL) and Nordson Corporation (NDSN) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JL and NDSN?
Over the past 3 years, JL and NDSN moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.07) than the 3-year average (-0.25). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -3746.0 %².
Within JL's tracked universe of 58 assets, NDSN comes in at #41 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NDSN outperformed by 64.9 percentage points (-16.4% for JL against +48.5% for NDSN). Note the risk asymmetry: JL runs 23.5 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.
JL vs NDSN: side by side
| JL (J-Long Group Limited - Class A) | NDSN (Nordson Corporation) | |
|---|---|---|
| 1-year return | -16.4% | +48.5% |
| 5-year return | n/a | +46.5% |
| Volatility (ann.) | 580.0% | 24.7% |
| Beta vs S&P 500 | -1.02 | 0.97 |
| Max drawdown (3Y) | -98.6% | -39.1% |
| Market cap | – | $18.4B |
| P/E (trailing) | 6.5 | 33.5 |
| Dividend yield | 0.00% | 0.98% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | JL | NDSN |
|---|---|---|
| 2022 | – | -5.9% |
| 2023 | – | +12.4% |
| 2024 | – | -20.1% |
| 2025 | +67.1% | +17.0% |
| 2026 | -20.1% | +38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JL and NDSN good diversifiers for each other?
Yes. With a correlation of -0.25, JL and NDSN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JL and NDSN?
The JL/NDSN correlation stands at -0.25 on a 3-year window (1 year: 0.07, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NDSN a good diversifier for JL?
Yes. With a correlation of -0.25, JL and NDSN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/jl-vs-ndsn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jl-vs-ndsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JL correlations · NDSN correlations
