NJR vs UBER: Correlation
How closely do NewJersey Resources Corporation (NJR) and Uber (UBER) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NJR and UBER?
Over the past 3 years, NJR and UBER moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.52 versus -0.16 over 3 years. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -108.1 %².
Among the 22 assets we track against NJR, UBER ranks #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NJR ahead by 37.1 points (+17.8% versus -19.3%). Risk is not evenly split, since UBER carries 2.0 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 UBER: side by side
| NJR (NewJersey Resources Corporation) | UBER (Uber) | |
|---|---|---|
| 1-year return | +17.8% | -19.3% |
| 5-year return | +74.0% | +94.4% |
| Volatility (ann.) | 18.2% | 36.7% |
| Beta vs S&P 500 | 0.06 | 1.34 |
| Max drawdown (3Y) | -12.9% | -34.1% |
| Market cap | $5.5B | $157.2B |
| P/E (trailing) | 15.1 | 17.2 |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | NJR | UBER |
|---|---|---|
| 2022 | +24.9% | -41.0% |
| 2023 | -6.9% | +149.0% |
| 2024 | +8.7% | -2.0% |
| 2025 | +2.9% | +35.5% |
| 2026 | +18.7% | -5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NJR and UBER good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NJR and UBER?
The NJR/UBER correlation stands at -0.16 on a 3-year window (1 year: -0.52, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is UBER a good diversifier for NJR?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 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-uber.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/njr-vs-uber/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NJR correlations · UBER correlations
