JBTM vs RNST: Correlation
How closely do JBT Marel Corporation (JBTM) and Renasant Corporation (RNST) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBTM and RNST?
Across a 3-year window, the weekly returns of JBTM and RNST correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 537.7 %².
By 3-year correlation, RNST places #5 of the 12 assets tracked against JBTM. Their recent paths diverged sharply: over the last 12 months RNST outperformed by 25.3 percentage points (-18.2% for JBTM against +7.1% for RNST).
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.
JBTM vs RNST: side by side
| JBTM (JBT Marel Corporation) | RNST (Renasant Corporation) | |
|---|---|---|
| 1-year return | -18.2% | +7.1% |
| 5-year return | -18.0% | +34.8% |
| Volatility (ann.) | 35.7% | 30.4% |
| Beta vs S&P 500 | 0.79 | 0.95 |
| Max drawdown (3Y) | -32.2% | -29.3% |
| Market cap | $6.1B | $3.8B |
| P/E (trailing) | 32.3 | 12.1 |
| Dividend yield | 0.33% | 2.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JBTM | RNST |
|---|---|---|
| 2022 | -40.3% | +1.7% |
| 2023 | +9.3% | -7.7% |
| 2024 | +28.3% | +9.1% |
| 2025 | +18.9% | +1.0% |
| 2026 | -21.5% | +18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBTM and RNST good diversifiers for each other?
Only partially. A correlation of 0.50 means JBTM and RNST 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 JBTM and RNST?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.46 over the last year and 0.41 over 5 years.
Is RNST a good diversifier for JBTM?
Only partially. A correlation of 0.50 means JBTM and RNST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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: JBTM correlations · RNST correlations
