NRXP vs SJM: Correlation
How closely do NRX Pharmaceuticals, Inc. (NRXP) and J.M. Smucker Company (The) (SJM) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRXP and SJM?
Across a 3-year window, the weekly returns of NRXP and SJM correlate at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.24 over 3. Stretching to 5 years gives -0.19, with an annualized covariance of -716.8 %².
Out of 17 assets tracked against NRXP, SJM lands near the bottom at #16. Over the last 12 months NRXP came out ahead by 10.4 percentage points (+40.3% against +29.9%). Note the risk asymmetry: NRXP runs 4.3 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.
NRXP vs SJM: side by side
| NRXP (NRX Pharmaceuticals, Inc.) | SJM (J.M. Smucker Company (The)) | |
|---|---|---|
| 1-year return | +40.3% | +29.9% |
| 5-year return | -97.5% | +28.2% |
| Volatility (ann.) | 112.5% | 26.0% |
| Beta vs S&P 500 | 1.30 | 0.21 |
| Max drawdown (3Y) | -83.5% | -32.5% |
| Market cap | $0.2B | $14.1B |
| P/E (trailing) | – | 61.3 |
| Dividend yield | 0.00% | 3.38% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | NRXP | SJM |
|---|---|---|
| 2022 | -76.8% | +20.1% |
| 2023 | -58.6% | -17.8% |
| 2024 | -52.2% | -9.6% |
| 2025 | +23.2% | -7.6% |
| 2026 | +33.6% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRXP and SJM good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NRXP and SJM?
As of 2026-08-27, the correlation of weekly returns between NRXP and SJM is -0.24 over 3 years, -0.22 over 1 year and -0.19 over 5 years.
Is SJM a good diversifier for NRXP?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/nrxp-vs-sjm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nrxp-vs-sjm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NRXP correlations · SJM correlations
