CSX vs ODFL: Correlation
CSX Corporation (CSX) and Old Dominion (ODFL) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSX and ODFL?
Across a 3-year window, the weekly returns of CSX and ODFL correlate at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 393.0 %².
Within CSX's tracked universe of 30 assets, ODFL comes in at #12 by 3-year correlation. The last year tells two different stories: CSX led by 29.7 percentage points, +60.6% for CSX against +30.9% for ODFL. The rolling one-year correlation moved between 0.40 and 0.70 over the past three years, a moderate range. Note the risk asymmetry: ODFL runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ODFL: side by side
| CSX (CSX Corporation) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | +60.6% | +30.9% |
| 5-year return | +66.2% | +39.6% |
| Volatility (ann.) | 19.7% | 34.7% |
| Beta vs S&P 500 | 0.62 | 0.98 |
| Max drawdown (3Y) | -29.4% | -45.2% |
| Market cap | $95.5B | $41.6B |
| P/E (trailing) | 30.1 | 38.3 |
| Dividend yield | 1.04% | 0.57% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | CSX | ODFL |
|---|---|---|
| 2022 | -16.6% | -20.5% |
| 2023 | +13.5% | +43.5% |
| 2024 | -5.6% | -12.5% |
| 2025 | +14.1% | -10.5% |
| 2026 | +43.1% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSX and ODFL good diversifiers for each other?
Only partially. A correlation of 0.58 means CSX and ODFL 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 ODFL?
The CSX/ODFL correlation stands at 0.58 on a 3-year window (1 year: 0.53, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is ODFL a good diversifier for CSX?
Only partially. A correlation of 0.58 means CSX and ODFL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 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/csx-vs-odfl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/csx-vs-odfl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSX correlations · ODFL correlations
