JNJ vs SO: Correlation
Measured on weekly returns over the past three years, Johnson & Johnson (JNJ) and Southern Company (SO) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JNJ and SO?
Across a 3-year window, the weekly returns of JNJ and SO correlate at 0.52, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.52 over 3. Stretching to 5 years gives 0.52, with an annualized covariance of 158.1 %².
By 3-year correlation, SO places #15 of the 48 assets tracked against JNJ. Their recent paths diverged sharply: over the last 12 months JNJ outperformed by 55.1 percentage points (+53.7% for JNJ against -1.4% for SO). Across three years, the rolling one-year figure varied moderately, from 0.42 to 0.67.
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 SO: side by side
| JNJ (Johnson & Johnson) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +53.7% | -1.4% |
| 5-year return | +76.0% | +62.6% |
| Volatility (ann.) | 18.5% | 16.5% |
| Beta vs S&P 500 | 0.05 | -0.02 |
| Max drawdown (3Y) | -14.4% | -15.0% |
| Market cap | $640.5B | $102.4B |
| P/E (trailing) | 30.9 | 21.7 |
| Dividend yield | 1.94% | 3.32% |
| Sector / category | Health Care | Utilities |
Year-by-year returns
| Year | JNJ | SO |
|---|---|---|
| 2022 | +6.0% | +8.2% |
| 2023 | -8.6% | +2.2% |
| 2024 | -4.8% | +21.7% |
| 2025 | +47.5% | +9.5% |
| 2026 | +30.5% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JNJ and SO good diversifiers for each other?
Only partially. A correlation of 0.52 means JNJ and SO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between JNJ and SO?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.51 over the last year and 0.52 over 5 years.
Is SO a good diversifier for JNJ?
Only partially. A correlation of 0.52 means JNJ and SO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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.
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Related comparisons
Hubs: JNJ correlations · SO correlations
