NJR vs ORCL: Correlation
How closely do NewJersey Resources Corporation (NJR) and Oracle Corporation (ORCL) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NJR and ORCL?
Across a 3-year window, the weekly returns of NJR and ORCL correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.47) than the 3-year average (-0.21). Stretching to 5 years gives -0.03, with an annualized covariance of -193.1 %².
Within NJR's tracked universe of 22 assets, ORCL comes in at #16 by 3-year correlation. The last year tells two different stories: NJR led by 52.6 percentage points, +17.8% for NJR against -34.8% for ORCL. Risk is not evenly split, since ORCL carries 2.7 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 ORCL: side by side
| NJR (NewJersey Resources Corporation) | ORCL (Oracle Corporation) | |
|---|---|---|
| 1-year return | +17.8% | -34.8% |
| 5-year return | +74.0% | +81.7% |
| Volatility (ann.) | 18.2% | 49.9% |
| Beta vs S&P 500 | 0.06 | 1.71 |
| Max drawdown (3Y) | -12.9% | -64.6% |
| Market cap | $5.5B | $437.7B |
| P/E (trailing) | 15.1 | 25.5 |
| Dividend yield | 3.49% | 1.34% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | NJR | ORCL |
|---|---|---|
| 2022 | +24.9% | -4.6% |
| 2023 | -6.9% | +30.9% |
| 2024 | +8.7% | +60.0% |
| 2025 | +2.9% | +18.1% |
| 2026 | +18.7% | -21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NJR and ORCL good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NJR and ORCL?
As of 2026-08-27, the correlation of weekly returns between NJR and ORCL is -0.21 over 3 years, -0.47 over 1 year and -0.03 over 5 years.
Is ORCL a good diversifier for NJR?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/njr-vs-orcl.json
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Related comparisons
Hubs: NJR correlations · ORCL correlations
