JNJ vs PEW: Correlation
How closely do Johnson & Johnson (JNJ) and GrabAGun Digital Holdings Inc. (PEW) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JNJ and PEW?
On 3 years of weekly data the JNJ/PEW correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.30 over 3. The 5-year figure is n/a, and annualized covariance runs at -292.2 %².
Out of 48 assets tracked against JNJ, PEW lands near the bottom at #48. Correlation aside, the last 12 months split them widely, with JNJ ahead by 110.8 points (+53.7% versus -57.1%). Note the risk asymmetry: PEW runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 PEW: side by side
| JNJ (Johnson & Johnson) | PEW (GrabAGun Digital Holdings Inc.) | |
|---|---|---|
| 1-year return | +53.7% | -57.1% |
| 5-year return | +76.0% | n/a |
| Volatility (ann.) | 18.5% | 51.2% |
| Beta vs S&P 500 | 0.05 | 0.44 |
| Max drawdown (3Y) | -14.4% | -86.8% |
| Market cap | $640.5B | $0.1B |
| P/E (trailing) | 30.9 | – |
| Dividend yield | 1.94% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | JNJ | PEW |
|---|---|---|
| 2022 | +6.0% | – |
| 2023 | -8.6% | – |
| 2024 | -4.8% | – |
| 2025 | +47.5% | -74.4% |
| 2026 | +30.5% | -21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JNJ and PEW good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between JNJ and PEW?
The JNJ/PEW correlation stands at -0.30 on a 3-year window (1 year: -0.33, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PEW a good diversifier for JNJ?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 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/jnj-vs-pew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jnj-vs-pew/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JNJ correlations · PEW correlations
