CSWC vs EXPD: Correlation
Measured on weekly returns over the past three years, Capital Southwest Corporation (CSWC) and Expeditors International (EXPD) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSWC and EXPD?
Across a 3-year window, the weekly returns of CSWC and EXPD correlate at 0.45, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.45 over 3. Stretching to 5 years gives 0.43, with an annualized covariance of 219.5 %².
Within CSWC's tracked universe of 17 assets, EXPD comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EXPD ahead by 32.0 points (+25.5% versus +57.5%).
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.
CSWC vs EXPD: side by side
| CSWC (Capital Southwest Corporation) | EXPD (Expeditors International) | |
|---|---|---|
| 1-year return | +25.5% | +57.5% |
| 5-year return | +72.3% | +60.9% |
| Volatility (ann.) | 20.0% | 24.2% |
| Beta vs S&P 500 | 0.64 | 0.65 |
| Max drawdown (3Y) | -27.7% | -21.3% |
| Market cap | $1.6B | $24.8B |
| P/E (trailing) | 14.0 | 27.7 |
| Dividend yield | 9.20% | 0.83% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CSWC | EXPD |
|---|---|---|
| 2022 | -24.4% | -21.7% |
| 2023 | +56.1% | +23.9% |
| 2024 | +2.1% | -11.9% |
| 2025 | +14.3% | +36.2% |
| 2026 | +23.1% | +28.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSWC and EXPD good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CSWC and EXPD?
As of 2026-08-27, the correlation of weekly returns between CSWC and EXPD is 0.45 over 3 years, 0.52 over 1 year and 0.43 over 5 years.
Is EXPD a good diversifier for CSWC?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cswc-vs-expd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cswc-vs-expd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSWC correlations · EXPD correlations
