It may be possible to create a SVG graphics (.svg, .svgz) from JPEG sources (.jpg, .jpeg), it will be far from ideal. SVG is a vector based image, so unless the JPG image contains some geometric shapes or similar stuff that could be transferred to vectors, the resulting SVG will be far from ideal.
If you are looking for a way to convert bitmap to a vector image, you need to use software that possess this capability. For example CorelDraw has so called Power Trace function which can be used to convert bitmap graphics to vector and thus saved as vector, for example in the SVG format.
This function is accessible through the Raster ► Convert to Raster menu option when you have selected the object (imported JPG image)
But you can of course find other tools. Just look for programs with bitmap to vector conversion capability.