CASY vs MUSA: Correlation
How closely do Casey's (CASY) and Murphy USA Inc. (MUSA) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CASY and MUSA?
Over the past 3 years, CASY and MUSA moved with a correlation of 0.50, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 484.3 %².
Few assets follow CASY as closely as MUSA, which ranks #1 of 30 tracked partners. The last year tells two different stories: CASY led by 18.4 percentage points, +53.7% for CASY against +35.3% for MUSA.
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.
CASY vs MUSA: side by side
| CASY (Casey's) | MUSA (Murphy USA Inc.) | |
|---|---|---|
| 1-year return | +53.7% | +35.3% |
| 5-year return | +284.3% | +234.8% |
| Volatility (ann.) | 28.9% | 33.7% |
| Beta vs S&P 500 | 0.39 | 0.06 |
| Max drawdown (3Y) | -16.6% | -35.5% |
| Market cap | $28.2B | $9.4B |
| P/E (trailing) | 42.2 | 16.3 |
| Dividend yield | 0.28% | 0.46% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | CASY | MUSA |
|---|---|---|
| 2022 | +14.5% | +41.0% |
| 2023 | +23.3% | +28.2% |
| 2024 | +45.0% | +41.3% |
| 2025 | +40.1% | -19.1% |
| 2026 | +38.4% | +26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CASY and MUSA good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CASY and MUSA?
As of 2026-08-27, the correlation of weekly returns between CASY and MUSA is 0.50 over 3 years, 0.52 over 1 year and 0.55 over 5 years.
Is MUSA a good diversifier for CASY?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/casy-vs-musa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/casy-vs-musa/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CASY correlations · MUSA correlations
