CNI vs KNX: Correlation
Canadian National Railway Company (CNI) and Knight-Swift Transportation Holdings Inc. (KNX) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNI and KNX?
On 3 years of weekly data the CNI/KNX correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 311.6 %².
By 3-year correlation, KNX places #4 of the 10 assets tracked against CNI. The last year tells two different stories: KNX led by 25.4 percentage points, +32.5% for CNI against +57.9% for KNX. Risk is not evenly split, since KNX carries 1.7 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.
CNI vs KNX: side by side
| CNI (Canadian National Railway Company) | KNX (Knight-Swift Transportation Holdings Inc.) | |
|---|---|---|
| 1-year return | +32.5% | +57.9% |
| 5-year return | +27.2% | +37.4% |
| Volatility (ann.) | 18.6% | 31.7% |
| Beta vs S&P 500 | 0.48 | 1.00 |
| Max drawdown (3Y) | -29.1% | -35.7% |
| Market cap | $76.5B | $11.2B |
| P/E (trailing) | 22.7 | 255.2 |
| Dividend yield | 2.83% | 1.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNI | KNX |
|---|---|---|
| 2022 | -1.4% | -13.2% |
| 2023 | +7.8% | +11.1% |
| 2024 | -17.5% | -6.9% |
| 2025 | -0.8% | +0.1% |
| 2026 | +29.5% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNI and KNX good diversifiers for each other?
Only partially. A correlation of 0.53 means CNI and KNX 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 KNX?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.44 over the last year and 0.51 over 5 years.
Is KNX a good diversifier for CNI?
Only partially. A correlation of 0.53 means CNI and KNX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cni-vs-knx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cni-vs-knx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNI correlations · KNX correlations
