CSX vs NSC: Correlation
CSX Corporation (CSX) and Norfolk Southern (NSC) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSX and NSC?
Over the past 3 years, CSX and NSC moved with a correlation of 0.75, which is strong. Little has changed lately, as the 1-year reading of 0.79 lands near the 3-year figure. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 323.6 %².
NSC is one of the assets that tracks CSX most closely: it ranks #1 out of the 30 assets we track against CSX. Correlation aside, the last 12 months split them widely, with CSX ahead by 30.6 points (+60.6% versus +30.0%). Across three years, the rolling one-year figure varied moderately, from 0.52 to 0.89.
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.
CSX vs NSC: side by side
| CSX (CSX Corporation) | NSC (Norfolk Southern) | |
|---|---|---|
| 1-year return | +60.6% | +30.0% |
| 5-year return | +66.2% | +49.6% |
| Volatility (ann.) | 19.7% | 22.0% |
| Beta vs S&P 500 | 0.62 | 0.69 |
| Max drawdown (3Y) | -29.4% | -25.1% |
| Market cap | $95.5B | $78.1B |
| P/E (trailing) | 30.1 | 30.1 |
| Dividend yield | 1.04% | 1.53% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CSX | NSC |
|---|---|---|
| 2022 | -16.6% | -15.6% |
| 2023 | +13.5% | -1.6% |
| 2024 | -5.6% | +1.6% |
| 2025 | +14.1% | +25.6% |
| 2026 | +43.1% | +22.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSX and NSC good diversifiers for each other?
Only partially. A correlation of 0.75 means CSX and NSC 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 CSX and NSC?
The CSX/NSC correlation stands at 0.75 on a 3-year window (1 year: 0.79, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is NSC a good diversifier for CSX?
Only partially. A correlation of 0.75 means CSX and NSC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 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/csx-vs-nsc.json
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[](https://www.pairbook.io/pair/csx-vs-nsc/)
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Related comparisons
Hubs: CSX correlations · NSC correlations
