CVLG vs RXO: Correlation
Measured on weekly returns over the past three years, Covenant Logistics Group, Inc. (CVLG) and RXO, Inc. (RXO) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVLG and RXO?
Across a 3-year window, the weekly returns of CVLG and RXO correlate at 0.66, strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 1511.8 %².
By 3-year correlation, RXO places #8 of the 18 assets tracked against CVLG. On 12-month performance CVLG holds a 9.8-point edge, +47.1% against +37.3%. Note the risk asymmetry: RXO runs 1.6 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.
CVLG vs RXO: side by side
| CVLG (Covenant Logistics Group, Inc.) | RXO (RXO, Inc.) | |
|---|---|---|
| 1-year return | +47.1% | +37.3% |
| 5-year return | +200.1% | n/a |
| Volatility (ann.) | 37.9% | 60.7% |
| Beta vs S&P 500 | 1.02 | 1.66 |
| Max drawdown (3Y) | -41.3% | -67.1% |
| Market cap | $0.9B | $3.7B |
| P/E (trailing) | 710.6 | – |
| Dividend yield | 0.79% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVLG | RXO |
|---|---|---|
| 2022 | +32.2% | – |
| 2023 | +34.6% | +35.2% |
| 2024 | +19.4% | +2.5% |
| 2025 | -18.2% | -47.0% |
| 2026 | +61.9% | +76.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVLG and RXO good diversifiers for each other?
Only partially. A correlation of 0.66 means CVLG and RXO 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 CVLG and RXO?
The CVLG/RXO correlation stands at 0.66 on a 3-year window (1 year: 0.65, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is RXO a good diversifier for CVLG?
Only partially. A correlation of 0.66 means CVLG and RXO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvlg-vs-rxo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cvlg-vs-rxo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVLG correlations · RXO correlations
