HTLD vs MAMO: Correlation
Heartland Express, Inc. (HTLD) and Massimo Group (MAMO) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTLD and MAMO?
Over the past 3 years, HTLD and MAMO moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.23). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -714.9 %².
MAMO is close to the least connected end of HTLD's tracked universe, ranking #13 of 15. Their recent paths diverged sharply: over the last 12 months HTLD outperformed by 111.6 percentage points (+45.5% for HTLD against -66.1% for MAMO). One caveat on sizing: MAMO is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MAMO: side by side
| HTLD (Heartland Express, Inc.) | MAMO (Massimo Group) | |
|---|---|---|
| 1-year return | +45.5% | -66.1% |
| 5-year return | -24.6% | n/a |
| Volatility (ann.) | 35.1% | 87.3% |
| Beta vs S&P 500 | 0.84 | 0.53 |
| Max drawdown (3Y) | -55.1% | -83.6% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | 10.0 |
| Dividend yield | 0.64% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTLD | MAMO |
|---|---|---|
| 2022 | -8.3% | – |
| 2023 | -6.5% | – |
| 2024 | -20.8% | – |
| 2025 | -18.8% | +54.9% |
| 2026 | +37.3% | -74.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTLD and MAMO good diversifiers for each other?
Yes. With a correlation of -0.23, HTLD and MAMO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HTLD and MAMO?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.37 over the last year and n/a over 5 years.
Is MAMO a good diversifier for HTLD?
Yes. With a correlation of -0.23, HTLD and MAMO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/htld-vs-mamo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/htld-vs-mamo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HTLD correlations · MAMO correlations
