NJR vs PM: Correlation
How closely do NewJersey Resources Corporation (NJR) and Philip Morris International (PM) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NJR and PM?
Over the past 3 years, NJR and PM moved with a correlation of 0.36, which is moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.36). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 152.2 %².
Within NJR's tracked universe of 22 assets, PM comes in at #10 by 3-year correlation. Their 12-month results are close: +17.8% for NJR against +20.2% for PM.
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 PM: side by side
| NJR (NewJersey Resources Corporation) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | +17.8% | +20.2% |
| 5-year return | +74.0% | +133.5% |
| Volatility (ann.) | 18.2% | 23.1% |
| Beta vs S&P 500 | 0.06 | -0.01 |
| Max drawdown (3Y) | -12.9% | -20.6% |
| Market cap | $5.5B | $296.9B |
| P/E (trailing) | 15.1 | 26.7 |
| Dividend yield | 3.49% | 3.03% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | NJR | PM |
|---|---|---|
| 2022 | +24.9% | +12.3% |
| 2023 | -6.9% | -1.9% |
| 2024 | +8.7% | +34.3% |
| 2025 | +2.9% | +38.0% |
| 2026 | +18.7% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NJR and PM good diversifiers for each other?
Reasonably. At 0.36, NJR and PM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NJR and PM?
As of 2026-08-27, the correlation of weekly returns between NJR and PM is 0.36 over 3 years, 0.52 over 1 year and 0.31 over 5 years.
Is PM a good diversifier for NJR?
Reasonably. At 0.36, NJR and PM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/njr-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NJR correlations · PM correlations
