JBHT vs XLI: Correlation
J.B. Hunt (JBHT) and Industrial Select Sector SPDR Fund (XLI) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBHT and XLI?
Across a 3-year window, the weekly returns of JBHT and XLI correlate at 0.53, moderate. The past 12 months show a weaker link (0.42) than the 3-year average (0.53). Stretching to 5 years gives 0.59, with an annualized covariance of 252.6 %².
By 3-year correlation, XLI places #20 of the 36 assets tracked against JBHT. Correlation aside, the last 12 months split them widely, with JBHT ahead by 63.8 points (+82.1% versus +18.3%). Across three years, the rolling one-year figure varied moderately, from 0.41 to 0.74. Note the risk asymmetry: JBHT runs 1.9 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 XLI: side by side
| JBHT (J.B. Hunt) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +82.1% | +18.3% |
| 5-year return | +51.0% | +84.0% |
| Volatility (ann.) | 30.0% | 15.7% |
| Beta vs S&P 500 | 0.93 | 0.89 |
| Max drawdown (3Y) | -42.4% | -18.5% |
| Market cap | $24.7B | – |
| P/E (trailing) | 37.5 | – |
| Dividend yield | 0.68% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Industrials | Sector ETF |
XLI is an Industrials fund from State Street Investment Management: $32.9B under management, 83 holdings, a 0.08% expense ratio, a 1.15% trailing dividend yield.
Year-by-year returns
| Year | JBHT | XLI |
|---|---|---|
| 2022 | -13.9% | -5.6% |
| 2023 | +15.6% | +18.1% |
| 2024 | -13.8% | +17.3% |
| 2025 | +15.2% | +19.3% |
| 2026 | +36.3% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.35% of XLI is JBHT itself, so the fund partly moves with the stock by construction.
Are JBHT and XLI good diversifiers for each other?
To a limited degree. At 0.53 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 XLI?
The JBHT/XLI correlation stands at 0.53 on a 3-year window (1 year: 0.42, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for JBHT?
To a limited degree. At 0.53 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 0.53 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-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jbht-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JBHT correlations · XLI correlations
