EXPD vs HTLD: Correlation
Measured on weekly returns over the past three years, Expeditors International (EXPD) and Heartland Express, Inc. (HTLD) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXPD and HTLD?
Across a 3-year window, the weekly returns of EXPD and HTLD correlate at 0.46, moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.46). Stretching to 5 years gives 0.51, with an annualized covariance of 387.8 %².
By 3-year correlation, HTLD places #12 of the 33 assets tracked against EXPD. Over the last 12 months EXPD came out ahead by 12.0 percentage points (+57.5% against +45.5%).
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.
EXPD vs HTLD: side by side
| EXPD (Expeditors International) | HTLD (Heartland Express, Inc.) | |
|---|---|---|
| 1-year return | +57.5% | +45.5% |
| 5-year return | +60.9% | -24.6% |
| Volatility (ann.) | 24.2% | 35.1% |
| Beta vs S&P 500 | 0.65 | 0.84 |
| Max drawdown (3Y) | -21.3% | -55.1% |
| Market cap | $24.8B | $1.0B |
| P/E (trailing) | 27.7 | – |
| Dividend yield | 0.83% | 0.64% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EXPD | HTLD |
|---|---|---|
| 2022 | -21.7% | -8.3% |
| 2023 | +23.9% | -6.5% |
| 2024 | -11.9% | -20.8% |
| 2025 | +36.2% | -18.8% |
| 2026 | +28.7% | +37.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXPD and HTLD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EXPD and HTLD?
As of 2026-08-27, the correlation of weekly returns between EXPD and HTLD is 0.46 over 3 years, 0.36 over 1 year and 0.51 over 5 years.
Is HTLD a good diversifier for EXPD?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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/expd-vs-htld.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/expd-vs-htld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXPD correlations · HTLD correlations
