JL vs RAND: Correlation
J-Long Group Limited - Class A (JL) and Rand Capital Corporation - Closed End Fund (RAND) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JL and RAND?
Over the past 3 years, JL and RAND moved with a correlation of 0.35, which is moderate. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.35). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 8277.1 %².
Among the 58 assets we track against JL, RAND ranks #18 by 3-year correlation. On 12-month performance JL holds a 5.3-point edge, -16.4% against -21.7%. One caveat on sizing: JL is 15.0 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 RAND: side by side
| JL (J-Long Group Limited - Class A) | RAND (Rand Capital Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | -16.4% | -21.7% |
| 5-year return | n/a | +9.9% |
| Volatility (ann.) | 580.0% | 38.7% |
| Beta vs S&P 500 | -1.02 | -0.01 |
| Max drawdown (3Y) | -98.6% | -60.1% |
| Market cap | – | – |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 0.00% | 10.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JL | RAND |
|---|---|---|
| 2022 | – | -17.0% |
| 2023 | – | +7.5% |
| 2024 | – | +91.4% |
| 2025 | +67.1% | -34.8% |
| 2026 | -20.1% | +2.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JL and RAND good diversifiers for each other?
Reasonably. At 0.35, JL and RAND keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between JL and RAND?
As of 2026-08-27, the correlation of weekly returns between JL and RAND is 0.35 over 3 years, 0.05 over 1 year and n/a over 5 years.
Is RAND a good diversifier for JL?
Reasonably. At 0.35, JL and RAND keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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: JL correlations · RAND correlations
