Correlation Between JB Hunt and RB Global
Can any of the company-specific risk be diversified away by investing in both JB Hunt and RB Global at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining JB Hunt and RB Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JB Hunt Transport and RB Global, you can compare the effects of market volatilities on JB Hunt and RB Global and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in JB Hunt with a short position of RB Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of JB Hunt and RB Global.
Diversification Opportunities for JB Hunt and RB Global
Poor diversification
The 3 months correlation between JBHT and RBA is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding JB Hunt Transport and RB Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RB Global and JB Hunt is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on JB Hunt Transport are associated (or correlated) with RB Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RB Global has no effect on the direction of JB Hunt i.e., JB Hunt and RB Global go up and down completely randomly.
Pair Corralation between JB Hunt and RB Global
Given the investment horizon of 90 days JB Hunt Transport is expected to generate 0.9 times more return on investment than RB Global. However, JB Hunt Transport is 1.12 times less risky than RB Global. It trades about 0.34 of its potential returns per unit of risk. RB Global is currently generating about 0.08 per unit of risk. If you would invest 15,860 in JB Hunt Transport on November 20, 2025 and sell it today you would earn a total of 6,491 from holding JB Hunt Transport or generate 40.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JB Hunt Transport vs. RB Global
Performance |
| Timeline |
| JB Hunt Transport |
| RB Global |
JB Hunt and RB Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JB Hunt and RB Global
The main advantage of trading using opposite JB Hunt and RB Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JB Hunt position performs unexpectedly, RB Global can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in RB Global will offset losses from the drop in RB Global's long position.| JB Hunt vs. XPO Logistics | JB Hunt vs. Expeditors International of | JB Hunt vs. CH Robinson Worldwide | JB Hunt vs. ZTO Express |
| RB Global vs. Thomson Reuters | RB Global vs. Johnson Controls International | RB Global vs. Transdigm Group Incorporated | RB Global vs. Vertiv Holdings Co |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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