HRI vs ODFL: Correlation
How closely do Herc Holdings Inc. (HRI) and Old Dominion (ODFL) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRI and ODFL?
On 3 years of weekly data the HRI/ODFL correlation comes out at 0.59, moderate. The past 12 months show a weaker link (0.48) than the 3-year average (0.59). The 5-year figure is 0.56, and annualized covariance runs at 1100.2 %².
By 3-year correlation, ODFL places #6 of the 14 assets tracked against HRI. On 12-month performance ODFL holds a 12.0-point edge, +18.9% against +30.9%. Risk is not evenly split, since HRI carries 1.6 times the volatility of the other side.
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.
HRI vs ODFL: side by side
| HRI (Herc Holdings Inc.) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | +18.9% | +30.9% |
| 5-year return | +27.3% | +39.6% |
| Volatility (ann.) | 54.2% | 34.7% |
| Beta vs S&P 500 | 1.68 | 0.98 |
| Max drawdown (3Y) | -60.9% | -45.2% |
| Market cap | $5.2B | $41.6B |
| P/E (trailing) | 92.0 | 38.3 |
| Dividend yield | 1.79% | 0.57% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | HRI | ODFL |
|---|---|---|
| 2022 | -14.4% | -20.5% |
| 2023 | +15.5% | +43.5% |
| 2024 | +29.4% | -12.5% |
| 2025 | -20.1% | -10.5% |
| 2026 | +5.8% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRI and ODFL good diversifiers for each other?
To a limited degree. At 0.59 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 HRI and ODFL?
As of 2026-08-27, the correlation of weekly returns between HRI and ODFL is 0.59 over 3 years, 0.48 over 1 year and 0.56 over 5 years.
Is ODFL a good diversifier for HRI?
To a limited degree. At 0.59 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 0.59 mean?
On the −1 to +1 scale, 0.59 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/hri-vs-odfl.json
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[](https://www.pairbook.io/pair/hri-vs-odfl/)
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Related comparisons
Hubs: HRI correlations · ODFL correlations
