JBHT vs VXX: Correlation
Measured on weekly returns over the past three years, J.B. Hunt (JBHT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBHT and VXX?
Over the past 3 years, JBHT and VXX moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.20) runs above the 3-year figure (-0.38). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -697.5 %².
VXX is close to the least connected end of JBHT's tracked universe, ranking #35 of 36. The last year tells two different stories: JBHT led by 131.8 percentage points, +82.1% for JBHT against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.0 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 VXX: side by side
| JBHT (J.B. Hunt) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +82.1% | -49.7% |
| 5-year return | +51.0% | -95.6% |
| Volatility (ann.) | 30.0% | 60.9% |
| Beta vs S&P 500 | 0.93 | -3.31 |
| Max drawdown (3Y) | -42.4% | -83.3% |
| 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 | VXX |
|---|---|---|
| 2022 | -13.9% | -23.8% |
| 2023 | +15.6% | -72.5% |
| 2024 | -13.8% | -26.2% |
| 2025 | +15.2% | -42.2% |
| 2026 | +36.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBHT and VXX good diversifiers for each other?
Yes. With a correlation of -0.38, JBHT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JBHT and VXX?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.20 over the last year and -0.36 over 5 years.
Is VXX a good diversifier for JBHT?
Yes. With a correlation of -0.38, JBHT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
A reading of -0.38 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/jbht-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jbht-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JBHT correlations · VXX correlations
