MO vs NJR: Correlation
Altria (MO) and NewJersey Resources Corporation (NJR) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MO and NJR?
Across a 3-year window, the weekly returns of MO and NJR correlate at 0.44, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.44 over 3. Stretching to 5 years gives 0.34, with an annualized covariance of 174.6 %².
Within MO's tracked universe of 49 assets, NJR comes in at #13 by 3-year correlation. Over the last 12 months NJR came out ahead by 9.0 percentage points (+8.8% against +17.8%).
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.
MO vs NJR: side by side
| MO (Altria) | NJR (NewJersey Resources Corporation) | |
|---|---|---|
| 1-year return | +8.8% | +17.8% |
| 5-year return | +100.4% | +74.0% |
| Volatility (ann.) | 21.8% | 18.2% |
| Beta vs S&P 500 | -0.07 | 0.06 |
| Max drawdown (3Y) | -16.4% | -12.9% |
| Market cap | $113.0B | $5.5B |
| P/E (trailing) | 14.6 | 15.1 |
| Dividend yield | 6.13% | 3.49% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | MO | NJR |
|---|---|---|
| 2022 | +4.4% | +24.9% |
| 2023 | -3.7% | -6.9% |
| 2024 | +40.8% | +8.7% |
| 2025 | +18.2% | +2.9% |
| 2026 | +21.1% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MO and NJR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MO and NJR?
The MO/NJR correlation stands at 0.44 on a 3-year window (1 year: 0.53, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is NJR a good diversifier for MO?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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/mo-vs-njr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mo-vs-njr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MO correlations · NJR correlations
