HTLD vs KNX: Correlation
Heartland Express, Inc. (HTLD) and Knight-Swift Transportation Holdings Inc. (KNX) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTLD and KNX?
Over the past 3 years, HTLD and KNX moved with a correlation of 0.70, which is strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 778.4 %².
Within HTLD's tracked universe of 15 assets, KNX comes in at #4 by 3-year correlation. On 12-month performance KNX holds a 12.4-point edge, +45.5% against +57.9%.
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.
HTLD vs KNX: side by side
| HTLD (Heartland Express, Inc.) | KNX (Knight-Swift Transportation Holdings Inc.) | |
|---|---|---|
| 1-year return | +45.5% | +57.9% |
| 5-year return | -24.6% | +37.4% |
| Volatility (ann.) | 35.1% | 31.7% |
| Beta vs S&P 500 | 0.84 | 1.00 |
| Max drawdown (3Y) | -55.1% | -35.7% |
| Market cap | $1.0B | $11.2B |
| P/E (trailing) | – | 255.2 |
| Dividend yield | 0.64% | 1.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTLD | KNX |
|---|---|---|
| 2022 | -8.3% | -13.2% |
| 2023 | -6.5% | +11.1% |
| 2024 | -20.8% | -6.9% |
| 2025 | -18.8% | +0.1% |
| 2026 | +37.3% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTLD and KNX good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HTLD and KNX?
As of 2026-08-27, the correlation of weekly returns between HTLD and KNX is 0.70 over 3 years, 0.73 over 1 year and 0.68 over 5 years.
Is KNX a good diversifier for HTLD?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
A reading of 0.70 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/htld-vs-knx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/htld-vs-knx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HTLD correlations · KNX correlations
