JL vs PW: Correlation
Measured on weekly returns over the past three years, J-Long Group Limited - Class A (JL) and Power REIT (MD) (PW) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JL and PW?
On 3 years of weekly data the JL/PW correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.02 versus -0.20 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -13102.2 %².
Among the 58 assets we track against JL, PW ranks #29 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months JL outperformed by 36.4 percentage points (-16.4% for JL against -52.8% for PW). One caveat on sizing: JL is 4.7 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 PW: side by side
| JL (J-Long Group Limited - Class A) | PW (Power REIT (MD)) | |
|---|---|---|
| 1-year return | -16.4% | -52.8% |
| 5-year return | n/a | -98.2% |
| Volatility (ann.) | 580.0% | 123.7% |
| Beta vs S&P 500 | -1.02 | 0.51 |
| Max drawdown (3Y) | -98.6% | -79.8% |
| 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 | PW |
|---|---|---|
| 2022 | – | -94.3% |
| 2023 | – | -83.5% |
| 2024 | – | +104.6% |
| 2025 | +67.1% | -33.8% |
| 2026 | -20.1% | -12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JL and PW good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between JL and PW?
The JL/PW correlation stands at -0.20 on a 3-year window (1 year: -0.02, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PW a good diversifier for JL?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jl-vs-pw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jl-vs-pw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JL correlations · PW correlations
