FGNX vs ODFL: Correlation
How closely do FG Nexus Inc. (FGNX) and Old Dominion (ODFL) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGNX and ODFL?
Over the past 3 years, FGNX and ODFL moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.10 over 1 year against -0.16 over 3. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -573.9 %².
By 3-year correlation, ODFL places #9 of the 18 assets tracked against FGNX. Correlation aside, the last 12 months split them widely, with ODFL ahead by 118.4 points (-87.5% versus +30.9%). Note the risk asymmetry: FGNX runs 3.0 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.
FGNX vs ODFL: side by side
| FGNX (FG Nexus Inc.) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | -87.5% | +30.9% |
| 5-year return | -98.8% | +39.6% |
| Volatility (ann.) | 105.1% | 34.7% |
| Beta vs S&P 500 | -0.07 | 0.98 |
| Max drawdown (3Y) | -97.9% | -45.2% |
| Market cap | – | $41.6B |
| P/E (trailing) | – | 38.3 |
| Dividend yield | 0.00% | 0.57% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FGNX | ODFL |
|---|---|---|
| 2022 | -24.2% | -20.5% |
| 2023 | -43.9% | +43.5% |
| 2024 | -45.5% | -12.5% |
| 2025 | -87.4% | -10.5% |
| 2026 | -42.8% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGNX and ODFL good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FGNX and ODFL?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with -0.10 over the last year and -0.05 over 5 years.
Is ODFL a good diversifier for FGNX?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
A reading of -0.16 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/fgnx-vs-odfl.json
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Related comparisons
Hubs: FGNX correlations · ODFL correlations
