JOF vs SGHT: Correlation
Measured on weekly returns over the past three years, Japan Smaller Capitalization Fund Inc (JOF) and Sight Sciences, Inc. (SGHT) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOF and SGHT?
Across a 3-year window, the weekly returns of JOF and SGHT correlate at 0.41, moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.41). Stretching to 5 years gives 0.40, with an annualized covariance of 733.9 %².
Within JOF's tracked universe of 15 assets, SGHT comes in at #9 by 3-year correlation. The last year tells two different stories: SGHT led by 65.8 percentage points, +33.0% for JOF against +98.8% for SGHT. Risk is not evenly split, since SGHT carries 5.2 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.
JOF vs SGHT: side by side
| JOF (Japan Smaller Capitalization Fund Inc) | SGHT (Sight Sciences, Inc.) | |
|---|---|---|
| 1-year return | +33.0% | +98.8% |
| 5-year return | +81.0% | -73.7% |
| Volatility (ann.) | 18.6% | 96.0% |
| Beta vs S&P 500 | 0.74 | 2.34 |
| Max drawdown (3Y) | -17.2% | -81.1% |
| Market cap | – | $0.5B |
| P/E (trailing) | 2.5 | – |
| Dividend yield | 5.67% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOF | SGHT |
|---|---|---|
| 2022 | -17.1% | -30.5% |
| 2023 | +21.4% | -57.7% |
| 2024 | +5.3% | -29.5% |
| 2025 | +52.1% | +117.9% |
| 2026 | +20.9% | +6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOF and SGHT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between JOF and SGHT?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.52 over the last year and 0.40 over 5 years.
Is SGHT a good diversifier for JOF?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 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/jof-vs-sght.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jof-vs-sght/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JOF correlations · SGHT correlations
