MRTN vs ODFL: Correlation
Measured on weekly returns over the past three years, Marten Transport, Ltd. (MRTN) 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 MRTN and ODFL?
Across a 3-year window, the weekly returns of MRTN and ODFL correlate at 0.68, strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. Stretching to 5 years gives 0.64, with an annualized covariance of 672.7 %².
Among the 21 assets we track against MRTN, ODFL ranks #9 by 3-year correlation. Over the last 12 months ODFL came out ahead by 7.5 percentage points (+23.4% against +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.
MRTN vs ODFL: side by side
| MRTN (Marten Transport, Ltd.) | ODFL (Old Dominion) | |
|---|---|---|
| 1-year return | +23.4% | +30.9% |
| 5-year return | -1.0% | +39.6% |
| Volatility (ann.) | 28.6% | 34.7% |
| Beta vs S&P 500 | 0.78 | 0.98 |
| Max drawdown (3Y) | -54.8% | -45.2% |
| Market cap | $1.2B | $41.6B |
| P/E (trailing) | 96.4 | 38.3 |
| Dividend yield | 1.66% | 0.57% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | MRTN | ODFL |
|---|---|---|
| 2022 | +16.7% | -20.5% |
| 2023 | +7.3% | +43.5% |
| 2024 | -24.6% | -12.5% |
| 2025 | -25.7% | -10.5% |
| 2026 | +28.1% | +27.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRTN 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 MRTN and ODFL?
The MRTN/ODFL correlation stands at 0.68 on a 3-year window (1 year: 0.73, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is ODFL a good diversifier for MRTN?
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?
A reading of 0.68 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/mrtn-vs-odfl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mrtn-vs-odfl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MRTN correlations · ODFL correlations
