CHRW vs CVLG: Correlation
Measured on weekly returns over the past three years, C.H. Robinson (CHRW) and Covenant Logistics Group, Inc. (CVLG) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRW and CVLG?
On 3 years of weekly data the CHRW/CVLG correlation comes out at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.43) sits close to the 3-year figure. The 5-year figure is 0.31, and annualized covariance runs at 490.3 %².
Within CHRW's tracked universe of 31 assets, CVLG comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CVLG ahead by 27.2 points (+19.9% versus +47.1%).
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.
CHRW vs CVLG: side by side
| CHRW (C.H. Robinson) | CVLG (Covenant Logistics Group, Inc.) | |
|---|---|---|
| 1-year return | +19.9% | +47.1% |
| 5-year return | +86.8% | +200.1% |
| Volatility (ann.) | 35.7% | 37.9% |
| Beta vs S&P 500 | 0.69 | 1.02 |
| Max drawdown (3Y) | -32.4% | -41.3% |
| Market cap | $17.7B | $0.9B |
| P/E (trailing) | 29.0 | 710.6 |
| Dividend yield | 1.65% | 0.79% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CHRW | CVLG |
|---|---|---|
| 2022 | -13.1% | +32.2% |
| 2023 | -3.1% | +34.6% |
| 2024 | +22.9% | +19.4% |
| 2025 | +59.0% | -18.2% |
| 2026 | -5.3% | +61.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRW and CVLG good diversifiers for each other?
Reasonably. At 0.36, CHRW and CVLG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHRW and CVLG?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.43 over the last year and 0.31 over 5 years.
Is CVLG a good diversifier for CHRW?
Reasonably. At 0.36, CHRW and CVLG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/chrw-vs-cvlg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chrw-vs-cvlg/)
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Related comparisons
Hubs: CHRW correlations · CVLG correlations
