JBHT vs UNP: Correlation
How closely do J.B. Hunt (JBHT) and Union Pacific Corporation (UNP) 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 JBHT and UNP?
Over the past 3 years, JBHT and UNP moved with a correlation of 0.54, which is moderate. The link has loosened recently: the 1-year correlation (0.43) runs below the 3-year figure (0.54). Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 337.1 %².
Within JBHT's tracked universe of 36 assets, UNP comes in at #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with JBHT ahead by 39.7 points (+82.1% versus +42.4%). Across three years, the rolling one-year figure varied moderately, from 0.43 to 0.71.
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 UNP: side by side
| JBHT (J.B. Hunt) | UNP (Union Pacific Corporation) | |
|---|---|---|
| 1-year return | +82.1% | +42.4% |
| 5-year return | +51.0% | +56.5% |
| Volatility (ann.) | 30.0% | 20.6% |
| Beta vs S&P 500 | 0.93 | 0.56 |
| Max drawdown (3Y) | -42.4% | -17.8% |
| Market cap | $24.7B | $182.8B |
| P/E (trailing) | 37.5 | 25.1 |
| Dividend yield | 0.68% | 1.78% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | JBHT | UNP |
|---|---|---|
| 2022 | -13.9% | -15.9% |
| 2023 | +15.6% | +21.6% |
| 2024 | -13.8% | -5.1% |
| 2025 | +15.2% | +3.9% |
| 2026 | +36.3% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBHT and UNP good diversifiers for each other?
Only partially. A correlation of 0.54 means JBHT and UNP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between JBHT and UNP?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.43 over the last year and 0.59 over 5 years.
Is UNP a good diversifier for JBHT?
Only partially. A correlation of 0.54 means JBHT and UNP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jbht-vs-unp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jbht-vs-unp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JBHT correlations · UNP correlations
