NJR vs NOW: Correlation
Measured on weekly returns over the past three years, NewJersey Resources Corporation (NJR) and ServiceNow (NOW) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NJR and NOW?
Over the past 3 years, NJR and NOW moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.25 over 3 years. Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -192.3 %².
NOW is close to the least connected end of NJR's tracked universe, ranking #20 of 22. Correlation aside, the last 12 months split them widely, with NJR ahead by 39.9 points (+17.8% versus -22.1%). Risk is not evenly split, since NOW carries 2.4 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.
NJR vs NOW: side by side
| NJR (NewJersey Resources Corporation) | NOW (ServiceNow) | |
|---|---|---|
| 1-year return | +17.8% | -22.1% |
| 5-year return | +74.0% | +7.9% |
| Volatility (ann.) | 18.2% | 43.2% |
| Beta vs S&P 500 | 0.06 | 1.38 |
| Max drawdown (3Y) | -12.9% | -64.5% |
| Market cap | $5.5B | $143.1B |
| P/E (trailing) | 15.1 | 78.7 |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | NJR | NOW |
|---|---|---|
| 2022 | +24.9% | -40.2% |
| 2023 | -6.9% | +82.0% |
| 2024 | +8.7% | +50.1% |
| 2025 | +2.9% | -27.7% |
| 2026 | +18.7% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NJR and NOW good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NJR and NOW?
As of 2026-08-27, the correlation of weekly returns between NJR and NOW is -0.25 over 3 years, -0.46 over 1 year and -0.01 over 5 years.
Is NOW a good diversifier for NJR?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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/njr-vs-now.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/njr-vs-now/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NJR correlations · NOW correlations
