JBHT vs PAPL: Correlation
How closely do J.B. Hunt (JBHT) and Pineapple Financial Inc. (PAPL) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBHT and PAPL?
Over the past 3 years, JBHT and PAPL moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.16 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -872.0 %².
Within JBHT's tracked universe of 36 assets, PAPL comes in at #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with JBHT ahead by 152.8 points (+82.1% versus -70.7%). Note the risk asymmetry: PAPL runs 6.0 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.
JBHT vs PAPL: side by side
| JBHT (J.B. Hunt) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | +82.1% | -70.7% |
| 5-year return | +51.0% | n/a |
| Volatility (ann.) | 30.0% | 181.2% |
| Beta vs S&P 500 | 0.93 | -0.73 |
| Max drawdown (3Y) | -42.4% | -99.4% |
| Market cap | $24.7B | – |
| P/E (trailing) | 37.5 | – |
| Dividend yield | 0.68% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | JBHT | PAPL |
|---|---|---|
| 2022 | -13.9% | – |
| 2023 | +15.6% | – |
| 2024 | -13.8% | -74.7% |
| 2025 | +15.2% | -84.4% |
| 2026 | +36.3% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBHT and PAPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between JBHT and PAPL?
As of 2026-08-27, the correlation of weekly returns between JBHT and PAPL is -0.16 over 3 years, -0.03 over 1 year and n/a over 5 years.
Is PAPL a good diversifier for JBHT?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 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.
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Related comparisons
Hubs: JBHT correlations · PAPL correlations
