HTLD vs ODFL: Correlation
Measured on weekly returns over the past three years, Heartland Express, Inc. (HTLD) and Old Dominion (ODFL) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTLD and ODFL?
Across a 3-year window, the weekly returns of HTLD and ODFL correlate at 0.64, strong. Lately the two have moved closer together, with the 1-year correlation at 0.76 versus 0.64 over 3 years. Stretching to 5 years gives 0.63, with an annualized covariance of 780.0 %².
By 3-year correlation, ODFL places #6 of the 15 assets tracked against HTLD. The trailing year gives HTLD the advantage: +45.5% versus +30.9%, a 14.6-point spread.
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 ODFL: side by side
| HTLD (Heartland Express, Inc.) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | +45.5% | +30.9% |
| 5-year return | -24.6% | +39.6% |
| Volatility (ann.) | 35.1% | 34.7% |
| Beta vs S&P 500 | 0.84 | 0.98 |
| Max drawdown (3Y) | -55.1% | -45.2% |
| Market cap | $1.0B | $41.6B |
| P/E (trailing) | – | 38.3 |
| Dividend yield | 0.64% | 0.57% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | HTLD | ODFL |
|---|---|---|
| 2022 | -8.3% | -20.5% |
| 2023 | -6.5% | +43.5% |
| 2024 | -20.8% | -12.5% |
| 2025 | -18.8% | -10.5% |
| 2026 | +37.3% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTLD and ODFL good diversifiers for each other?
To a limited degree. At 0.64 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 HTLD and ODFL?
As of 2026-08-27, the correlation of weekly returns between HTLD and ODFL is 0.64 over 3 years, 0.76 over 1 year and 0.63 over 5 years.
Is ODFL a good diversifier for HTLD?
To a limited degree. At 0.64 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 0.64 mean?
A reading of 0.64 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-odfl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/htld-vs-odfl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HTLD correlations · ODFL correlations
