JNJ vs NVS: Correlation
How closely do Johnson & Johnson (JNJ) and Novartis AG (NVS) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JNJ and NVS?
Across a 3-year window, the weekly returns of JNJ and NVS correlate at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 194.3 %².
Within JNJ's tracked universe of 48 assets, NVS comes in at #11 by 3-year correlation. The last year tells two different stories: JNJ led by 28.1 percentage points, +53.7% for JNJ against +25.6% for NVS.
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.
JNJ vs NVS: side by side
| JNJ (Johnson & Johnson) | NVS (Novartis AG) | |
|---|---|---|
| 1-year return | +53.7% | +25.6% |
| 5-year return | +76.0% | +103.5% |
| Volatility (ann.) | 18.5% | 19.6% |
| Beta vs S&P 500 | 0.05 | 0.25 |
| Max drawdown (3Y) | -14.4% | -20.0% |
| Market cap | $640.5B | $293.9B |
| P/E (trailing) | 30.9 | 23.4 |
| Dividend yield | 1.94% | 2.96% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | JNJ | NVS |
|---|---|---|
| 2022 | +6.0% | +8.1% |
| 2023 | -8.6% | +16.1% |
| 2024 | -4.8% | +0.0% |
| 2025 | +47.5% | +47.0% |
| 2026 | +30.5% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JNJ and NVS good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JNJ and NVS?
The JNJ/NVS correlation stands at 0.53 on a 3-year window (1 year: 0.62, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is NVS a good diversifier for JNJ?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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/jnj-vs-nvs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jnj-vs-nvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JNJ correlations · NVS correlations
