JL vs TIP: Correlation
Measured on weekly returns over the past three years, J-Long Group Limited - Class A (JL) and iShares TIPS Bond ETF (TIP) 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 TIP?
Across a 3-year window, the weekly returns of JL and TIP correlate 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 -0.05 versus -0.20 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -446.3 %².
Among the 58 assets we track against JL, TIP ranks #30 by 3-year correlation. The last year tells two different stories: TIP led by 17.8 percentage points, -16.4% for JL against +1.4% for TIP. One caveat on sizing: JL is 131.8 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 TIP: side by side
| JL (J-Long Group Limited - Class A) | TIP (iShares TIPS Bond ETF) | |
|---|---|---|
| 1-year return | -16.4% | +1.4% |
| 5-year return | n/a | +1.2% |
| Volatility (ann.) | 580.0% | 4.4% |
| Beta vs S&P 500 | -1.02 | 0.05 |
| Max drawdown (3Y) | -98.6% | -3.7% |
| Market cap | – | – |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 0.00% | 4.47% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $14.6B |
| Sector / category | US Listed | ETF · Bonds |
TIP is an Inflation-Protected Bond fund from iShares: $14.6B under management, a 0.18% expense ratio, a 4.47% trailing dividend yield.
Year-by-year returns
| Year | JL | TIP |
|---|---|---|
| 2022 | – | -12.3% |
| 2023 | – | +3.8% |
| 2024 | – | +1.7% |
| 2025 | +67.1% | +6.8% |
| 2026 | -20.1% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JL and TIP 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 TIP?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.05 over the last year and n/a over 5 years.
Is TIP 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-tip.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jl-vs-tip/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JL correlations · TIP correlations
