JL vs NWTG: Correlation
Measured on weekly returns over the past three years, J-Long Group Limited - Class A (JL) and Newton Golf Company, Inc. (NWTG) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JL and NWTG?
On 3 years of weekly data the JL/NWTG correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.15 versus -0.33 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -28536.0 %².
Among the 58 assets we track against JL, NWTG ranks #53 by 3-year correlation. The last year tells two different stories: JL led by 16.2 percentage points, -16.4% for JL against -32.6% for NWTG. Risk is not evenly split, since JL carries 4.1 times the volatility of the other side.
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 NWTG: side by side
| JL (J-Long Group Limited - Class A) | NWTG (Newton Golf Company, Inc.) | |
|---|---|---|
| 1-year return | -16.4% | -32.6% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 580.0% | 142.1% |
| Beta vs S&P 500 | -1.02 | 0.76 |
| Max drawdown (3Y) | -98.6% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JL | NWTG |
|---|---|---|
| 2024 | – | -93.9% |
| 2025 | +67.1% | -88.1% |
| 2026 | -20.1% | -17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JL and NWTG good diversifiers for each other?
Yes. With a correlation of -0.33, JL and NWTG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JL and NWTG?
The JL/NWTG correlation stands at -0.33 on a 3-year window (1 year: 0.15, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NWTG a good diversifier for JL?
Yes. With a correlation of -0.33, JL and NWTG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
A reading of -0.33 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-nwtg.json
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Related comparisons
Hubs: JL correlations · NWTG correlations
