CVLG vs TFII: Correlation
Covenant Logistics Group, Inc. (CVLG) and TFI International Inc. (TFII) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVLG and TFII?
On 3 years of weekly data the CVLG/TFII correlation comes out at 0.66, strong. Lately the two have moved closer together, with the 1-year correlation at 0.77 versus 0.66 over 3 years. The 5-year figure is 0.54, and annualized covariance runs at 883.0 %².
By 3-year correlation, TFII places #9 of the 18 assets tracked against CVLG. Their 12-month results are close: +47.1% for CVLG against +45.9% for TFII.
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 TFII: side by side
| CVLG (Covenant Logistics Group, Inc.) | TFII (TFI International Inc.) | |
|---|---|---|
| 1-year return | +47.1% | +45.9% |
| 5-year return | +200.1% | +27.7% |
| Volatility (ann.) | 37.9% | 35.1% |
| Beta vs S&P 500 | 1.02 | 1.02 |
| Max drawdown (3Y) | -41.3% | -53.8% |
| Market cap | $0.9B | $11.2B |
| P/E (trailing) | 710.6 | 33.2 |
| Dividend yield | 0.79% | 1.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVLG | TFII |
|---|---|---|
| 2022 | +32.2% | -9.5% |
| 2023 | +34.6% | +37.3% |
| 2024 | +19.4% | +0.5% |
| 2025 | -18.2% | -22.7% |
| 2026 | +61.9% | +32.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVLG and TFII good diversifiers for each other?
Only partially. A correlation of 0.66 means CVLG and TFII 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 TFII?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.77 over the last year and 0.54 over 5 years.
Is TFII a good diversifier for CVLG?
Only partially. A correlation of 0.66 means CVLG and TFII 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-tfii.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvlg-vs-tfii/)
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Related comparisons
Hubs: CVLG correlations · TFII correlations
