Correlation Between YieldMax N and JB Hunt

Can any of the company-specific risk be diversified away by investing in both YieldMax N 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 YieldMax N and JB Hunt into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between YieldMax N Option and JB Hunt Transport, you can compare the effects of market volatilities on YieldMax N 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 YieldMax N with a short position of JB Hunt. Check out your portfolio center. Please also check ongoing floating volatility patterns of YieldMax N and JB Hunt.

Diversification Opportunities for YieldMax N and JB Hunt

0.73

Correlation Coefficient

YieldMax N  JB Hunt

Poor diversification

The 3 months correlation between YieldMax and JBHT is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding YieldMax N Option 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 YieldMax N 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 YieldMax N Option 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 YieldMax N i.e., YieldMax N and JB Hunt go up and down completely randomly.

Pair Corralation between YieldMax N and JB Hunt

Given the investment horizon of 90 days YieldMax N Option is expected to generate 1.84 times more return on investment than JB Hunt. However, YieldMax N is 1.84 times more volatile than JB Hunt Transport. It trades about 0.12 of its potential returns per unit of risk. JB Hunt Transport is currently generating about 0.06 per unit of risk. If you would invest  582.00  in YieldMax N Option on May 7, 2025 and sell it today you would earn a total of  159.00  from holding YieldMax N Option or generate 27.32% return on investment over 90 days.

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

YieldMax N Option  vs.  JB Hunt Transport

YieldMax N Option

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in YieldMax N Option are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. In spite of fairly uncertain basic indicators, YieldMax N showed solid returns over the last few months and may actually be approaching a breakup point.

JB Hunt Transport

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in JB Hunt Transport are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively unsteady technical indicators, JB Hunt may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with YieldMax N and JB Hunt

The main advantage of trading using opposite YieldMax N and JB Hunt positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if YieldMax N 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 YieldMax N Option 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.

Check out your portfolio center.

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 Global Correlations module to find global opportunities by holding instruments from different markets.