CVLG vs JBHT: Correlation
Covenant Logistics Group, Inc. (CVLG) and J.B. Hunt (JBHT) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVLG and JBHT?
Over the past 3 years, CVLG and JBHT moved with a correlation of 0.68, which is strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.68 over 3. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 768.3 %².
By 3-year correlation, JBHT places #7 of the 18 assets tracked against CVLG. The last year tells two different stories: JBHT led by 35.0 percentage points, +47.1% for CVLG against +82.1% for JBHT.
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.
CVLG vs JBHT: side by side
| CVLG (Covenant Logistics Group, Inc.) | JBHT (J.B. Hunt) | |
|---|---|---|
| 1-year return | +47.1% | +82.1% |
| 5-year return | +200.1% | +51.0% |
| Volatility (ann.) | 37.9% | 30.0% |
| Beta vs S&P 500 | 1.02 | 0.93 |
| Max drawdown (3Y) | -41.3% | -42.4% |
| Market cap | $0.9B | $24.7B |
| P/E (trailing) | 710.6 | 37.5 |
| Dividend yield | 0.79% | 0.68% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CVLG | JBHT |
|---|---|---|
| 2022 | +32.2% | -13.9% |
| 2023 | +34.6% | +15.6% |
| 2024 | +19.4% | -13.8% |
| 2025 | -18.2% | +15.2% |
| 2026 | +61.9% | +36.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVLG and JBHT good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CVLG and JBHT?
The CVLG/JBHT correlation stands at 0.68 on a 3-year window (1 year: 0.64, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is JBHT a good diversifier for CVLG?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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/cvlg-vs-jbht.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvlg-vs-jbht/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVLG correlations · JBHT correlations
