CNI vs CSX: Correlation
How closely do Canadian National Railway Company (CNI) and CSX Corporation (CSX) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNI and CSX?
On 3 years of weekly data the CNI/CSX correlation comes out at 0.55, moderate. The link has tightened recently: the 1-year correlation (0.67) runs above the 3-year figure (0.55). The 5-year figure is 0.59, and annualized covariance runs at 200.3 %².
In CNI's tracked universe of 10 assets, CSX sits right near the top at #3. The last year tells two different stories: CSX led by 28.1 percentage points, +32.5% for CNI against +60.6% for CSX.
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.
CNI vs CSX: side by side
| CNI (Canadian National Railway Company) | CSX (CSX Corporation) | |
|---|---|---|
| 1-year return | +32.5% | +60.6% |
| 5-year return | +27.2% | +66.2% |
| Volatility (ann.) | 18.6% | 19.7% |
| Beta vs S&P 500 | 0.48 | 0.62 |
| Max drawdown (3Y) | -29.1% | -29.4% |
| Market cap | $76.5B | $95.5B |
| P/E (trailing) | 22.7 | 30.1 |
| Dividend yield | 2.83% | 1.04% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CNI | CSX |
|---|---|---|
| 2022 | -1.4% | -16.6% |
| 2023 | +7.8% | +13.5% |
| 2024 | -17.5% | -5.6% |
| 2025 | -0.8% | +14.1% |
| 2026 | +29.5% | +43.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNI and CSX good diversifiers for each other?
Only partially. A correlation of 0.55 means CNI and CSX 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 CNI and CSX?
As of 2026-08-27, the correlation of weekly returns between CNI and CSX is 0.55 over 3 years, 0.67 over 1 year and 0.59 over 5 years.
Is CSX a good diversifier for CNI?
Only partially. A correlation of 0.55 means CNI and CSX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CNI correlations · CSX correlations
