JBHT vs ODFL: Correlation
J.B. Hunt (JBHT) and Old Dominion (ODFL) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBHT and ODFL?
Over the past 3 years, JBHT and ODFL moved with a correlation of 0.69, which is strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 716.7 %².
Among the 36 assets we track against JBHT, ODFL ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with JBHT ahead by 51.2 points (+82.1% versus +30.9%). The rolling one-year correlation stayed in a tight band between 0.58 and 0.77 over the past three years, which points to a structural rather than episodic relationship.
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.
JBHT vs ODFL: side by side
| JBHT (J.B. Hunt) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | +82.1% | +30.9% |
| 5-year return | +51.0% | +39.6% |
| Volatility (ann.) | 30.0% | 34.7% |
| Beta vs S&P 500 | 0.93 | 0.98 |
| Max drawdown (3Y) | -42.4% | -45.2% |
| Market cap | $24.7B | $41.6B |
| P/E (trailing) | 37.5 | 38.3 |
| Dividend yield | 0.68% | 0.57% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | JBHT | ODFL |
|---|---|---|
| 2022 | -13.9% | -20.5% |
| 2023 | +15.6% | +43.5% |
| 2024 | -13.8% | -12.5% |
| 2025 | +15.2% | -10.5% |
| 2026 | +36.3% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBHT and ODFL good diversifiers for each other?
To a limited degree. At 0.69 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 JBHT and ODFL?
As of 2026-08-27, the correlation of weekly returns between JBHT and ODFL is 0.69 over 3 years, 0.71 over 1 year and 0.71 over 5 years.
Is ODFL a good diversifier for JBHT?
To a limited degree. At 0.69 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 0.69 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/jbht-vs-odfl.json
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Related comparisons
Hubs: JBHT correlations · ODFL correlations
