NFG vs NJR: Correlation
National Fuel Gas Company (NFG) and NewJersey Resources Corporation (NJR) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NFG and NJR?
Over the past 3 years, NFG and NJR moved with a correlation of 0.54, which is moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 196.0 %².
Few assets follow NFG as closely as NJR, which ranks #3 of 13 tracked partners. The last year tells two different stories: NJR led by 20.4 percentage points, -2.6% for NFG against +17.8% for NJR.
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.
NFG vs NJR: side by side
| NFG (National Fuel Gas Company) | NJR (NewJersey Resources Corporation) | |
|---|---|---|
| 1-year return | -2.6% | +17.8% |
| 5-year return | +87.6% | +74.0% |
| Volatility (ann.) | 20.0% | 18.2% |
| Beta vs S&P 500 | 0.10 | 0.06 |
| Max drawdown (3Y) | -20.9% | -12.9% |
| Market cap | $7.9B | $5.5B |
| P/E (trailing) | 11.6 | 15.1 |
| Dividend yield | 2.59% | 3.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NFG | NJR |
|---|---|---|
| 2022 | +1.9% | +24.9% |
| 2023 | -17.7% | -6.9% |
| 2024 | +25.4% | +8.7% |
| 2025 | +35.3% | +2.9% |
| 2026 | +4.8% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NFG and NJR good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NFG and NJR?
The NFG/NJR correlation stands at 0.54 on a 3-year window (1 year: 0.54, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is NJR a good diversifier for NFG?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 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/nfg-vs-njr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nfg-vs-njr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NFG correlations · NJR correlations
