CVLG vs UPS: Correlation
How closely do Covenant Logistics Group, Inc. (CVLG) and United Parcel Service (UPS) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVLG and UPS?
On 3 years of weekly data the CVLG/UPS correlation comes out at 0.53, moderate. The past 12 months show a tighter link (0.69) than the 3-year average (0.53). The 5-year figure is 0.40, and annualized covariance runs at 588.5 %².
Within CVLG's tracked universe of 18 assets, UPS comes in at #11 by 3-year correlation. The last year tells two different stories: CVLG led by 18.9 percentage points, +47.1% for CVLG against +28.2% for UPS.
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 UPS: side by side
| CVLG (Covenant Logistics Group, Inc.) | UPS (United Parcel Service) | |
|---|---|---|
| 1-year return | +47.1% | +28.2% |
| 5-year return | +200.1% | -31.0% |
| Volatility (ann.) | 37.9% | 29.4% |
| Beta vs S&P 500 | 1.02 | 0.81 |
| Max drawdown (3Y) | -41.3% | -46.5% |
| Market cap | $0.9B | $89.9B |
| P/E (trailing) | 710.6 | 19.6 |
| Dividend yield | 0.79% | 6.21% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CVLG | UPS |
|---|---|---|
| 2022 | +32.2% | -16.2% |
| 2023 | +34.6% | -6.0% |
| 2024 | +19.4% | -15.9% |
| 2025 | -18.2% | -15.9% |
| 2026 | +61.9% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVLG and UPS good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CVLG and UPS?
As of 2026-08-27, the correlation of weekly returns between CVLG and UPS is 0.53 over 3 years, 0.69 over 1 year and 0.40 over 5 years.
Is UPS a good diversifier for CVLG?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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-ups.json
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Hubs: CVLG correlations · UPS correlations
