NJR vs TXNM: Correlation
Measured on weekly returns over the past three years, NewJersey Resources Corporation (NJR) and TXNM Energy, Inc. (TXNM) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NJR and TXNM?
Over the past 3 years, NJR and TXNM moved with a correlation of 0.44, which is moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.44 over 3. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 136.9 %².
Among the 22 assets we track against NJR, TXNM ranks #9 by 3-year correlation. The trailing year gives NJR the advantage: +17.8% versus +4.5%, a 13.3-point spread.
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 TXNM: side by side
| NJR (NewJersey Resources Corporation) | TXNM (TXNM Energy, Inc.) | |
|---|---|---|
| 1-year return | +17.8% | +4.5% |
| 5-year return | +74.0% | +36.1% |
| Volatility (ann.) | 18.2% | 17.1% |
| Beta vs S&P 500 | 0.06 | 0.10 |
| Max drawdown (3Y) | -12.9% | -21.0% |
| Market cap | $5.5B | $5.9B |
| P/E (trailing) | 15.1 | 31.4 |
| Dividend yield | 3.49% | 2.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NJR | TXNM |
|---|---|---|
| 2022 | +24.9% | +10.2% |
| 2023 | -6.9% | -12.0% |
| 2024 | +8.7% | +23.0% |
| 2025 | +2.9% | +23.4% |
| 2026 | +18.7% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NJR and TXNM good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NJR and TXNM?
The NJR/TXNM correlation stands at 0.44 on a 3-year window (1 year: 0.36, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is TXNM a good diversifier for NJR?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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-txnm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/njr-vs-txnm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NJR correlations · TXNM correlations
