KNX vs ODFL: Correlation
Measured on weekly returns over the past three years, Knight-Swift Transportation Holdings Inc. (KNX) and Old Dominion (ODFL) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KNX and ODFL?
Across a 3-year window, the weekly returns of KNX and ODFL correlate at 0.68, strong. The past 12 months show a tighter link (0.79) than the 3-year average (0.68). Stretching to 5 years gives 0.70, with an annualized covariance of 751.9 %².
Among the 17 assets we track against KNX, ODFL ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KNX ahead by 27.0 points (+57.9% versus +30.9%).
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.
KNX vs ODFL: side by side
| KNX (Knight-Swift Transportation Holdings Inc.) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | +57.9% | +30.9% |
| 5-year return | +37.4% | +39.6% |
| Volatility (ann.) | 31.7% | 34.7% |
| Beta vs S&P 500 | 1.00 | 0.98 |
| Max drawdown (3Y) | -35.7% | -45.2% |
| Market cap | $11.2B | $41.6B |
| P/E (trailing) | 255.2 | 38.3 |
| Dividend yield | 1.09% | 0.57% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | KNX | ODFL |
|---|---|---|
| 2022 | -13.2% | -20.5% |
| 2023 | +11.1% | +43.5% |
| 2024 | -6.9% | -12.5% |
| 2025 | +0.1% | -10.5% |
| 2026 | +32.6% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KNX and ODFL good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KNX and ODFL?
As of 2026-08-27, the correlation of weekly returns between KNX and ODFL is 0.68 over 3 years, 0.79 over 1 year and 0.70 over 5 years.
Is ODFL a good diversifier for KNX?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 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/knx-vs-odfl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/knx-vs-odfl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KNX correlations · ODFL correlations
