JL vs THCH: Correlation
J-Long Group Limited - Class A (JL) and TH International Limited (THCH) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JL and THCH?
Across a 3-year window, the weekly returns of JL and THCH correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.14 versus -0.22 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -8288.1 %².
Within JL's tracked universe of 58 assets, THCH comes in at #35 by 3-year correlation. The last year tells two different stories: JL led by 32.2 percentage points, -16.4% for JL against -48.6% for THCH. One caveat on sizing: JL is 9.0 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 THCH: side by side
| JL (J-Long Group Limited - Class A) | THCH (TH International Limited) | |
|---|---|---|
| 1-year return | -16.4% | -48.6% |
| 5-year return | n/a | -97.4% |
| Volatility (ann.) | 580.0% | 64.2% |
| Beta vs S&P 500 | -1.02 | 0.34 |
| Max drawdown (3Y) | -98.6% | -90.7% |
| 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 | THCH |
|---|---|---|
| 2022 | – | -71.7% |
| 2023 | – | -37.1% |
| 2024 | – | -59.4% |
| 2025 | +67.1% | -29.9% |
| 2026 | -20.1% | -49.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JL and THCH good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between JL and THCH?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with 0.14 over the last year and n/a over 5 years.
Is THCH a good diversifier for JL?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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-thch.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jl-vs-thch/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JL correlations · THCH correlations
