JL vs NUE: Correlation
How closely do J-Long Group Limited - Class A (JL) and Nucor (NUE) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JL and NUE?
Across a 3-year window, the weekly returns of JL and NUE correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.23 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -4588.3 %².
Within JL's tracked universe of 58 assets, NUE comes in at #37 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NUE ahead by 86.5 points (-16.4% versus +70.1%). One caveat on sizing: JL is 17.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 NUE: side by side
| JL (J-Long Group Limited - Class A) | NUE (Nucor) | |
|---|---|---|
| 1-year return | -16.4% | +70.1% |
| 5-year return | n/a | +124.6% |
| Volatility (ann.) | 580.0% | 33.3% |
| Beta vs S&P 500 | -1.02 | 1.08 |
| Max drawdown (3Y) | -98.6% | -47.8% |
| Market cap | – | $57.3B |
| P/E (trailing) | 6.5 | 20.1 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | JL | NUE |
|---|---|---|
| 2022 | – | +17.4% |
| 2023 | – | +33.8% |
| 2024 | – | -32.0% |
| 2025 | +67.1% | +42.0% |
| 2026 | -20.1% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JL and NUE good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between JL and NUE?
The JL/NUE correlation stands at -0.23 on a 3-year window (1 year: -0.17, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NUE a good diversifier for JL?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 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/jl-vs-nue.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: JL correlations · NUE correlations
