CHRW vs UPS: Correlation
How closely do C.H. Robinson (CHRW) and United Parcel Service (UPS) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRW and UPS?
Over the past 3 years, CHRW and UPS moved with a correlation of 0.42, which is moderate. The past 12 months show a tighter link (0.60) than the 3-year average (0.42). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 439.6 %².
Among the 31 assets we track against CHRW, UPS ranks #4 by 3-year correlation. On 12-month performance UPS holds a 8.3-point edge, +19.9% against +28.2%. Across three years, the rolling one-year figure varied moderately, from 0.21 to 0.59.
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 UPS: side by side
| CHRW (C.H. Robinson) | UPS (United Parcel Service) | |
|---|---|---|
| 1-year return | +19.9% | +28.2% |
| 5-year return | +86.8% | -31.0% |
| Volatility (ann.) | 35.7% | 29.4% |
| Beta vs S&P 500 | 0.69 | 0.81 |
| Max drawdown (3Y) | -32.4% | -46.5% |
| Market cap | $17.7B | $89.9B |
| P/E (trailing) | 29.0 | 19.6 |
| Dividend yield | 1.65% | 6.21% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CHRW | UPS |
|---|---|---|
| 2022 | -13.1% | -16.2% |
| 2023 | -3.1% | -6.0% |
| 2024 | +22.9% | -15.9% |
| 2025 | +59.0% | -15.9% |
| 2026 | -5.3% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRW and UPS good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CHRW and UPS?
The CHRW/UPS correlation stands at 0.42 on a 3-year window (1 year: 0.60, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is UPS a good diversifier for CHRW?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 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.
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Related comparisons
Hubs: CHRW correlations · UPS correlations
