Correlation Between Haoxin Holdings and JB Hunt
Can any of the company-specific risk be diversified away by investing in both Haoxin Holdings 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 Haoxin Holdings and JB Hunt into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Haoxin Holdings Limited and JB Hunt Transport, you can compare the effects of market volatilities on Haoxin Holdings 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 Haoxin Holdings with a short position of JB Hunt. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haoxin Holdings and JB Hunt.
Diversification Opportunities for Haoxin Holdings and JB Hunt
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Haoxin and JBHT is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Haoxin Holdings Limited 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 Haoxin Holdings 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 Haoxin Holdings Limited 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 Haoxin Holdings i.e., Haoxin Holdings and JB Hunt go up and down completely randomly.
Pair Corralation between Haoxin Holdings and JB Hunt
Given the investment horizon of 90 days Haoxin Holdings Limited is expected to under-perform the JB Hunt. In addition to that, Haoxin Holdings is 1.72 times more volatile than JB Hunt Transport. It trades about -0.18 of its total potential returns per unit of risk. JB Hunt Transport is currently generating about 0.18 per unit of volatility. If you would invest 13,963 in JB Hunt Transport on April 20, 2025 and sell it today you would earn a total of 926.00 from holding JB Hunt Transport or generate 6.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Haoxin Holdings Limited vs. JB Hunt Transport
Performance |
| Timeline |
| Haoxin Holdings |
| JB Hunt Transport |
Haoxin Holdings and JB Hunt Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Haoxin Holdings and JB Hunt
The main advantage of trading using opposite Haoxin Holdings and JB Hunt positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haoxin Holdings 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.| Haoxin Holdings vs. Estee Lauder Companies | Haoxin Holdings vs. Haemonetics | Haoxin Holdings vs. SL Green Realty | Haoxin Holdings vs. Edgewell Personal Care |
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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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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