JNJ vs TIGO: Correlation
Measured on weekly returns over the past three years, Johnson & Johnson (JNJ) and Millicom International Cellular S.A. (TIGO) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JNJ and TIGO?
On 3 years of weekly data the JNJ/TIGO correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. The 5-year figure is 0.23, and annualized covariance runs at 245.8 %².
By 3-year correlation, TIGO places #27 of the 48 assets tracked against JNJ. The last year tells two different stories: TIGO led by 60.3 percentage points, +53.7% for JNJ against +114.0% for TIGO. Risk is not evenly split, since TIGO carries 1.7 times the volatility of the other side.
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 TIGO: side by side
| JNJ (Johnson & Johnson) | TIGO (Millicom International Cellular S.A.) | |
|---|---|---|
| 1-year return | +53.7% | +114.0% |
| 5-year return | +76.0% | +193.9% |
| Volatility (ann.) | 18.5% | 31.5% |
| Beta vs S&P 500 | 0.05 | 0.20 |
| Max drawdown (3Y) | -14.4% | -17.7% |
| Market cap | $640.5B | $15.6B |
| P/E (trailing) | 30.9 | 23.3 |
| Dividend yield | 1.94% | 3.12% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | JNJ | TIGO |
|---|---|---|
| 2022 | +6.0% | -55.6% |
| 2023 | -8.6% | +42.5% |
| 2024 | -4.8% | +38.9% |
| 2025 | +47.5% | +152.3% |
| 2026 | +30.5% | +76.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JNJ and TIGO good diversifiers for each other?
Reasonably. At 0.42, JNJ and TIGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between JNJ and TIGO?
As of 2026-08-27, the correlation of weekly returns between JNJ and TIGO is 0.42 over 3 years, 0.50 over 1 year and 0.23 over 5 years.
Is TIGO a good diversifier for JNJ?
Reasonably. At 0.42, JNJ and TIGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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-tigo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jnj-vs-tigo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JNJ correlations · TIGO correlations
