Correlation Between JB Hunt and TriNet
Can any of the company-specific risk be diversified away by investing in both JB Hunt and TriNet 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 TriNet 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 TriNet Group, you can compare the effects of market volatilities on JB Hunt and TriNet 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 TriNet. Check out your portfolio center. Please also check ongoing floating volatility patterns of JB Hunt and TriNet.
Diversification Opportunities for JB Hunt and TriNet
Excellent diversification
The 3 months correlation between JBHT and TriNet is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding JB Hunt Transport and TriNet Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TriNet Group 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 TriNet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TriNet Group has no effect on the direction of JB Hunt i.e., JB Hunt and TriNet go up and down completely randomly.
Pair Corralation between JB Hunt and TriNet
Given the investment horizon of 90 days JB Hunt Transport is expected to generate 1.0 times more return on investment than TriNet. However, JB Hunt Transport is 1.0 times less risky than TriNet. It trades about 0.03 of its potential returns per unit of risk. TriNet Group is currently generating about -0.05 per unit of risk. If you would invest 15,938 in JB Hunt Transport on October 2, 2025 and sell it today you would earn a total of 3,683 from holding JB Hunt Transport or generate 23.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
JB Hunt Transport vs. TriNet Group
Performance |
| Timeline |
| JB Hunt Transport |
| TriNet Group |
JB Hunt and TriNet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JB Hunt and TriNet
The main advantage of trading using opposite JB Hunt and TriNet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JB Hunt position performs unexpectedly, TriNet 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 TriNet will offset losses from the drop in TriNet'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 |
| TriNet vs. Robert Half International | TriNet vs. Unifirst | TriNet vs. CBIZ Inc | TriNet vs. Huron Consulting Group |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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