HTLD vs RXO: Correlation
Heartland Express, Inc. (HTLD) and RXO, Inc. (RXO) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTLD and RXO?
Across a 3-year window, the weekly returns of HTLD and RXO correlate at 0.60, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.60 over 3. Stretching to 5 years gives 0.61, with an annualized covariance of 1282.0 %².
Within HTLD's tracked universe of 15 assets, RXO comes in at #8 by 3-year correlation. The trailing year gives HTLD the advantage: +45.5% versus +37.3%, a 8.2-point spread. Note the risk asymmetry: RXO runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 RXO: side by side
| HTLD (Heartland Express, Inc.) | RXO (RXO, Inc.) | |
|---|---|---|
| 1-year return | +45.5% | +37.3% |
| 5-year return | -24.6% | n/a |
| Volatility (ann.) | 35.1% | 60.7% |
| Beta vs S&P 500 | 0.84 | 1.66 |
| Max drawdown (3Y) | -55.1% | -67.1% |
| Market cap | $1.0B | $3.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.64% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTLD | RXO |
|---|---|---|
| 2022 | -8.3% | – |
| 2023 | -6.5% | +35.2% |
| 2024 | -20.8% | +2.5% |
| 2025 | -18.8% | -47.0% |
| 2026 | +37.3% | +76.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTLD and RXO good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HTLD and RXO?
As of 2026-08-27, the correlation of weekly returns between HTLD and RXO is 0.60 over 3 years, 0.66 over 1 year and 0.61 over 5 years.
Is RXO a good diversifier for HTLD?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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/htld-vs-rxo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/htld-vs-rxo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HTLD correlations · RXO correlations
