Correlation Between Roadrunner Transportation and J J

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

By analyzing existing cross correlation between Roadrunner Transportation Systems and J J Snack, you can compare the effects of market volatilities on Roadrunner Transportation and J J 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 Roadrunner Transportation with a short position of J J. Check out your portfolio center. Please also check ongoing floating volatility patterns of Roadrunner Transportation and J J.

Diversification Opportunities for Roadrunner Transportation and J J

0.22

Correlation Coefficient

Roadrunner Transportation  J J

Modest diversification

The 3 months correlation between Roadrunner and JJSF is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Roadrunner Transportation Syst and J J Snack in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on J J Snack and Roadrunner Transportation 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 Roadrunner Transportation Systems are associated (or correlated) with J J. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of J J Snack has no effect on the direction of Roadrunner Transportation i.e., Roadrunner Transportation and J J go up and down completely randomly.

Pair Corralation between Roadrunner Transportation and J J

Given the investment horizon of 90 days Roadrunner Transportation Systems is expected to generate 2.72 times more return on investment than J J. However, Roadrunner Transportation is 2.72 times more volatile than J J Snack. It trades about 0.05 of its potential returns per unit of risk. J J Snack is currently generating about -0.14 per unit of risk. If you would invest  224.00  in Roadrunner Transportation Systems on September 10, 2025 and sell it today you would earn a total of  22.00  from holding Roadrunner Transportation Systems or generate 9.82% return on investment over 90 days.

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

Roadrunner Transportation Syst  vs.  J J Snack

Roadrunner Transportation

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Roadrunner Transportation Systems are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively fragile basic indicators, Roadrunner Transportation unveiled solid returns over the last few months and may actually be approaching a breakup point.

J J Snack

Risk-Adjusted Performance

Weakest

Over the last 90 days J J Snack has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unsteady performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in January 2026. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with Roadrunner Transportation and J J

The main advantage of trading using opposite Roadrunner Transportation and J J positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Roadrunner Transportation position performs unexpectedly, J J 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 J J will offset losses from the drop in J J's long position.

The idea behind Roadrunner Transportation Systems and J J Snack 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.