NJR vs PSQH: Correlation
How closely do NewJersey Resources Corporation (NJR) and PSQ Holdings, Inc. (PSQH) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NJR and PSQH?
Over the past 3 years, NJR and PSQH moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.47) runs below the 3-year figure (-0.26). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -464.8 %².
PSQH is close to the least connected end of NJR's tracked universe, ranking #21 of 22. The last year tells two different stories: NJR led by 92.3 percentage points, +17.8% for NJR against -74.5% for PSQH. Note the risk asymmetry: PSQH runs 5.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 PSQH: side by side
| NJR (NewJersey Resources Corporation) | PSQH (PSQ Holdings, Inc.) | |
|---|---|---|
| 1-year return | +17.8% | -74.5% |
| 5-year return | +74.0% | -95.6% |
| Volatility (ann.) | 18.2% | 99.9% |
| Beta vs S&P 500 | 0.06 | 2.13 |
| Max drawdown (3Y) | -12.9% | -98.4% |
| Market cap | $5.5B | – |
| P/E (trailing) | 15.1 | – |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NJR | PSQH |
|---|---|---|
| 2022 | +24.9% | +3.1% |
| 2023 | -6.9% | -47.3% |
| 2024 | +8.7% | -13.4% |
| 2025 | +2.9% | -77.3% |
| 2026 | +18.7% | -59.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NJR and PSQH good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between NJR and PSQH?
As of 2026-08-27, the correlation of weekly returns between NJR and PSQH is -0.26 over 3 years, -0.47 over 1 year and -0.12 over 5 years.
Is PSQH a good diversifier for NJR?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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/njr-vs-psqh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/njr-vs-psqh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NJR correlations · PSQH correlations
