GWW vs ODFL: Correlation
W. W. Grainger (GWW) and Old Dominion (ODFL) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWW and ODFL?
Over the past 3 years, GWW and ODFL moved with a correlation of 0.55, which is moderate. The past 12 months show a weaker link (0.43) than the 3-year average (0.55). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 447.5 %².
Within GWW's tracked universe of 29 assets, ODFL comes in at #9 by 3-year correlation. Their 12-month results are close: +31.0% for GWW against +30.9% for ODFL. The rolling one-year correlation moved between 0.31 and 0.79 over the past three years, a moderate range.
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.
GWW vs ODFL: side by side
| GWW (W. W. Grainger) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | +31.0% | +30.9% |
| 5-year return | +219.4% | +39.6% |
| Volatility (ann.) | 23.3% | 34.7% |
| Beta vs S&P 500 | 0.74 | 0.98 |
| Max drawdown (3Y) | -24.5% | -45.2% |
| Market cap | $62.2B | $41.6B |
| P/E (trailing) | 34.0 | 38.3 |
| Dividend yield | 0.69% | 0.57% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | GWW | ODFL |
|---|---|---|
| 2022 | +8.7% | -20.5% |
| 2023 | +50.5% | +43.5% |
| 2024 | +28.2% | -12.5% |
| 2025 | -3.4% | -10.5% |
| 2026 | +31.7% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWW and ODFL good diversifiers for each other?
To a limited degree. At 0.55 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 GWW and ODFL?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.43 over the last year and 0.53 over 5 years.
Is ODFL a good diversifier for GWW?
To a limited degree. At 0.55 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 0.55 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gww-vs-odfl.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GWW correlations · ODFL correlations
