JBHT vs UPS: Correlation
J.B. Hunt (JBHT) and United Parcel Service (UPS) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBHT and UPS?
Across a 3-year window, the weekly returns of JBHT and UPS correlate at 0.50, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.61 versus 0.50 over 3 years. Stretching to 5 years gives 0.53, with an annualized covariance of 439.0 %².
Within JBHT's tracked universe of 36 assets, UPS comes in at #21 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months JBHT outperformed by 53.9 percentage points (+82.1% for JBHT against +28.2% for UPS). The relationship is regime-dependent: the rolling one-year correlation swung between 0.10 and 0.67 over the past three years, so this pair behaves very differently depending on the market environment.
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 UPS: side by side
| JBHT (J.B. Hunt) | UPS (United Parcel Service) | |
|---|---|---|
| 1-year return | +82.1% | +28.2% |
| 5-year return | +51.0% | -31.0% |
| Volatility (ann.) | 30.0% | 29.4% |
| Beta vs S&P 500 | 0.93 | 0.81 |
| Max drawdown (3Y) | -42.4% | -46.5% |
| Market cap | $24.7B | $89.9B |
| P/E (trailing) | 37.5 | 19.6 |
| Dividend yield | 0.68% | 6.21% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | JBHT | UPS |
|---|---|---|
| 2022 | -13.9% | -16.2% |
| 2023 | +15.6% | -6.0% |
| 2024 | -13.8% | -15.9% |
| 2025 | +15.2% | -15.9% |
| 2026 | +36.3% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBHT and UPS good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JBHT and UPS?
As of 2026-08-27, the correlation of weekly returns between JBHT and UPS is 0.50 over 3 years, 0.61 over 1 year and 0.53 over 5 years.
Is UPS a good diversifier for JBHT?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: JBHT correlations · UPS correlations
