ARCB vs CVLG: Correlation
Measured on weekly returns over the past three years, ArcBest Corporation (ARCB) and Covenant Logistics Group, Inc. (CVLG) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARCB and CVLG?
Across a 3-year window, the weekly returns of ARCB and CVLG correlate at 0.70, strong. Little has changed lately, as the 1-year reading of 0.76 lands near the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 1232.6 %².
Few assets follow ARCB as closely as CVLG, which ranks #3 of 18 tracked partners. The last year tells two different stories: ARCB led by 43.1 percentage points, +90.2% for ARCB against +47.1% for CVLG.
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.
ARCB vs CVLG: side by side
| ARCB (ArcBest Corporation) | CVLG (Covenant Logistics Group, Inc.) | |
|---|---|---|
| 1-year return | +90.2% | +47.1% |
| 5-year return | +107.2% | +200.1% |
| Volatility (ann.) | 46.8% | 37.9% |
| Beta vs S&P 500 | 1.33 | 1.02 |
| Max drawdown (3Y) | -62.4% | -41.3% |
| Market cap | $3.1B | $0.9B |
| P/E (trailing) | 198.7 | 710.6 |
| Dividend yield | 0.35% | 0.79% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARCB | CVLG |
|---|---|---|
| 2022 | -41.2% | +32.2% |
| 2023 | +72.4% | +34.6% |
| 2024 | -22.1% | +19.4% |
| 2025 | -20.0% | -18.2% |
| 2026 | +88.1% | +61.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARCB and CVLG good diversifiers for each other?
Only partially. A correlation of 0.70 means ARCB and CVLG 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 ARCB and CVLG?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.76 over the last year and 0.58 over 5 years.
Is CVLG a good diversifier for ARCB?
Only partially. A correlation of 0.70 means ARCB and CVLG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arcb-vs-cvlg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/arcb-vs-cvlg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARCB correlations · CVLG correlations
