JOUT vs NX: Correlation
How closely do Johnson Outdoors Inc. (JOUT) and Quanex Building Products Corporation (NX) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOUT and NX?
On 3 years of weekly data the JOUT/NX correlation comes out at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 847.5 %².
Among the 12 assets we track against JOUT, NX ranks #4 by 3-year correlation. The last year tells two different stories: JOUT led by 22.9 percentage points, +14.5% for JOUT against -8.4% for NX.
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.
JOUT vs NX: side by side
| JOUT (Johnson Outdoors Inc.) | NX (Quanex Building Products Corporation) | |
|---|---|---|
| 1-year return | +14.5% | -8.4% |
| 5-year return | -55.0% | -10.0% |
| Volatility (ann.) | 34.4% | 49.4% |
| Beta vs S&P 500 | 0.57 | 1.11 |
| Max drawdown (3Y) | -59.4% | -70.4% |
| Market cap | $0.5B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 2.90% | 1.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOUT | NX |
|---|---|---|
| 2022 | -28.1% | -3.1% |
| 2023 | -17.5% | +30.7% |
| 2024 | -36.1% | -19.9% |
| 2025 | +34.1% | -35.4% |
| 2026 | +10.1% | +29.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOUT and NX good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JOUT and NX?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.58 over the last year and 0.44 over 5 years.
Is NX a good diversifier for JOUT?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/jout-vs-nx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jout-vs-nx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JOUT correlations · NX correlations
