JL vs STLD: Correlation
J-Long Group Limited - Class A (JL) and Steel Dynamics (STLD) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JL and STLD?
Across a 3-year window, the weekly returns of JL and STLD correlate at -0.21, 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 -0.21 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -4237.7 %².
Among the 58 assets we track against JL, STLD ranks #32 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months STLD outperformed by 96.2 percentage points (-16.4% for JL against +79.8% for STLD). One caveat on sizing: JL is 16.8 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 STLD: side by side
| JL (J-Long Group Limited - Class A) | STLD (Steel Dynamics) | |
|---|---|---|
| 1-year return | -16.4% | +79.8% |
| 5-year return | n/a | +262.0% |
| Volatility (ann.) | 580.0% | 34.5% |
| Beta vs S&P 500 | -1.02 | 1.13 |
| Max drawdown (3Y) | -98.6% | -28.7% |
| Market cap | – | $33.8B |
| P/E (trailing) | 6.5 | 21.4 |
| Dividend yield | 0.00% | 0.87% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | JL | STLD |
|---|---|---|
| 2022 | – | +60.1% |
| 2023 | – | +22.8% |
| 2024 | – | -2.0% |
| 2025 | +67.1% | +50.7% |
| 2026 | -20.1% | +39.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JL and STLD good diversifiers for each other?
Yes. With a correlation of -0.21, JL and STLD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JL and STLD?
As of 2026-08-27, the correlation of weekly returns between JL and STLD is -0.21 over 3 years, -0.02 over 1 year and n/a over 5 years.
Is STLD a good diversifier for JL?
Yes. With a correlation of -0.21, JL and STLD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-stld.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: JL correlations · STLD correlations
