HTLD vs WERN: Correlation
Heartland Express, Inc. (HTLD) and Werner Enterprises, Inc. (WERN) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTLD and WERN?
On 3 years of weekly data the HTLD/WERN correlation comes out at 0.78, strong. Recent behaviour matches the longer record: 0.81 over 1 year against 0.78 over 3. The 5-year figure is 0.76, and annualized covariance runs at 815.6 %².
WERN is one of the assets that tracks HTLD most closely: it ranks #1 out of the 15 assets we track against HTLD. Over the last 12 months HTLD came out ahead by 9.5 percentage points (+45.5% against +36.0%).
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 WERN: side by side
| HTLD (Heartland Express, Inc.) | WERN (Werner Enterprises, Inc.) | |
|---|---|---|
| 1-year return | +45.5% | +36.0% |
| 5-year return | -24.6% | -14.3% |
| Volatility (ann.) | 35.1% | 29.9% |
| Beta vs S&P 500 | 0.84 | 0.80 |
| Max drawdown (3Y) | -55.1% | -44.5% |
| Market cap | $1.0B | $2.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.64% | 1.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTLD | WERN |
|---|---|---|
| 2022 | -8.3% | -14.4% |
| 2023 | -6.5% | +6.6% |
| 2024 | -20.8% | -14.2% |
| 2025 | -18.8% | -14.9% |
| 2026 | +37.3% | +30.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTLD and WERN good diversifiers for each other?
Only partially. A correlation of 0.78 means HTLD and WERN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HTLD and WERN?
The HTLD/WERN correlation stands at 0.78 on a 3-year window (1 year: 0.81, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is WERN a good diversifier for HTLD?
Only partially. A correlation of 0.78 means HTLD and WERN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
A reading of 0.78 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-wern.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/htld-vs-wern/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HTLD correlations · WERN correlations
