META vs NJR: Correlation
Meta Platforms (META) and NewJersey Resources Corporation (NJR) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are META and NJR?
On 3 years of weekly data the META/NJR correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. The 5-year figure is -0.07, and annualized covariance runs at -119.6 %².
Within META's tracked universe of 33 assets, NJR comes in at #27 by 3-year correlation. The last year tells two different stories: NJR led by 41.1 percentage points, -23.3% for META against +17.8% for NJR. One caveat on sizing: META is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
META vs NJR: side by side
| META (Meta Platforms) | NJR (NewJersey Resources Corporation) | |
|---|---|---|
| 1-year return | -23.3% | +17.8% |
| 5-year return | +51.3% | +74.0% |
| Volatility (ann.) | 36.9% | 18.2% |
| Beta vs S&P 500 | 1.45 | 0.06 |
| Max drawdown (3Y) | -34.2% | -12.9% |
| Market cap | $1,454.9B | $5.5B |
| P/E (trailing) | 21.7 | 15.1 |
| Dividend yield | 0.36% | 3.49% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | META | NJR |
|---|---|---|
| 2022 | -64.2% | +24.9% |
| 2023 | +194.1% | -6.9% |
| 2024 | +66.0% | +8.7% |
| 2025 | +13.1% | +2.9% |
| 2026 | -13.3% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are META and NJR good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between META and NJR?
The META/NJR correlation stands at -0.18 on a 3-year window (1 year: -0.16, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is NJR a good diversifier for META?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
A reading of -0.18 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/meta-vs-njr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/meta-vs-njr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: META correlations · NJR correlations
