BNC vs ODFL: Correlation
Measured on weekly returns over the past three years, CEA Industries Inc. (BNC) and Old Dominion (ODFL) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNC and ODFL?
Over the past 3 years, BNC and ODFL moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.11 lands near the 3-year figure. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -711.1 %².
Within BNC's tracked universe of 37 assets, ODFL comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ODFL ahead by 117.0 points (-86.1% versus +30.9%). Risk is not evenly split, since BNC carries 3.5 times the volatility of the other side.
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.
BNC vs ODFL: side by side
| BNC (CEA Industries Inc.) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | -86.1% | +30.9% |
| 5-year return | -97.4% | +39.6% |
| Volatility (ann.) | 120.4% | 34.7% |
| Beta vs S&P 500 | -0.47 | 0.98 |
| Max drawdown (3Y) | -96.5% | -45.2% |
| Market cap | $0.1B | $41.6B |
| P/E (trailing) | 0.0 | 38.3 |
| Dividend yield | 0.00% | 0.57% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | BNC | ODFL |
|---|---|---|
| 2022 | -82.5% | -20.5% |
| 2023 | -34.9% | +43.5% |
| 2024 | +23.7% | -12.5% |
| 2025 | -20.9% | -10.5% |
| 2026 | -53.1% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNC and ODFL good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between BNC and ODFL?
The BNC/ODFL correlation stands at -0.17 on a 3-year window (1 year: -0.11, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is ODFL a good diversifier for BNC?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bnc-vs-odfl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bnc-vs-odfl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BNC correlations · ODFL correlations
