Correlation Between Addentax Group and JB Hunt

Can any of the company-specific risk be diversified away by investing in both Addentax Group and JB Hunt at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Addentax Group and JB Hunt into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Addentax Group Corp and JB Hunt Transport, you can compare the effects of market volatilities on Addentax Group and JB Hunt and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Addentax Group with a short position of JB Hunt. Check out your portfolio center. Please also check ongoing floating volatility patterns of Addentax Group and JB Hunt.

Diversification Opportunities for Addentax Group and JB Hunt

-0.05

Correlation Coefficient

Addentax Group  JB Hunt

Good diversification

The 3 months correlation between Addentax and JBHT is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Addentax Group Corp and JB Hunt Transport in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JB Hunt Transport and Addentax Group is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Addentax Group Corp are associated (or correlated) with JB Hunt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JB Hunt Transport has no effect on the direction of Addentax Group i.e., Addentax Group and JB Hunt go up and down completely randomly.

Pair Corralation between Addentax Group and JB Hunt

Given the investment horizon of 90 days Addentax Group Corp is expected to under-perform the JB Hunt. In addition to that, Addentax Group is 3.82 times more volatile than JB Hunt Transport. It trades about -0.01 of its total potential returns per unit of risk. JB Hunt Transport is currently generating about -0.01 per unit of volatility. If you would invest  14,578  in JB Hunt Transport on May 19, 2025 and sell it today you would lose (233.00) from holding JB Hunt Transport or give up 1.6% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Addentax Group Corp  vs.  JB Hunt Transport

Addentax Group Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days Addentax Group Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Addentax Group is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.

JB Hunt Transport

Risk-Adjusted Performance

Weakest

Over the last 90 days JB Hunt Transport has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable technical indicators, JB Hunt is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Addentax Group and JB Hunt

The main advantage of trading using opposite Addentax Group and JB Hunt positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Addentax Group position performs unexpectedly, JB Hunt can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in JB Hunt will offset losses from the drop in JB Hunt's long position.

The idea behind Addentax Group Corp and JB Hunt Transport pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.