ITW vs JBHT: Correlation
How closely do Illinois Tool Works (ITW) and J.B. Hunt (JBHT) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITW and JBHT?
On 3 years of weekly data the ITW/JBHT correlation comes out at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.37 versus 0.54 over 3 years. The 5-year figure is 0.55, and annualized covariance runs at 306.4 %².
Among the 81 assets we track against ITW, JBHT ranks #47 by 3-year correlation. The last year tells two different stories: JBHT led by 73.9 percentage points, +8.2% for ITW against +82.1% for JBHT. Across three years, the rolling one-year figure varied moderately, from 0.40 to 0.75. Note the risk asymmetry: JBHT runs 1.6 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.
ITW vs JBHT: side by side
| ITW (Illinois Tool Works) | JBHT (J.B. Hunt) | |
|---|---|---|
| 1-year return | +8.2% | +82.1% |
| 5-year return | +36.1% | +51.0% |
| Volatility (ann.) | 19.0% | 30.0% |
| Beta vs S&P 500 | 0.64 | 0.93 |
| Max drawdown (3Y) | -20.6% | -42.4% |
| Market cap | $80.2B | $24.7B |
| P/E (trailing) | 25.8 | 37.5 |
| Dividend yield | 2.26% | 0.68% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ITW | JBHT |
|---|---|---|
| 2022 | -8.5% | -13.9% |
| 2023 | +21.6% | +15.6% |
| 2024 | -1.0% | -13.8% |
| 2025 | -0.4% | +15.2% |
| 2026 | +15.8% | +36.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITW and JBHT good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ITW and JBHT?
As of 2026-08-27, the correlation of weekly returns between ITW and JBHT is 0.54 over 3 years, 0.37 over 1 year and 0.55 over 5 years.
Is JBHT a good diversifier for ITW?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/itw-vs-jbht.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/itw-vs-jbht/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ITW correlations · JBHT correlations
