MRTN vs RXO: Correlation
Marten Transport, Ltd. (MRTN) and RXO, Inc. (RXO) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRTN and RXO?
Across a 3-year window, the weekly returns of MRTN and RXO correlate at 0.70, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 1213.2 %².
By 3-year correlation, RXO places #6 of the 21 assets tracked against MRTN. The trailing year gives RXO the advantage: +23.4% versus +37.3%, a 13.9-point spread. Note the risk asymmetry: RXO runs 2.1 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.
MRTN vs RXO: side by side
| MRTN (Marten Transport, Ltd.) | RXO (RXO, Inc.) | |
|---|---|---|
| 1-year return | +23.4% | +37.3% |
| 5-year return | -1.0% | n/a |
| Volatility (ann.) | 28.6% | 60.7% |
| Beta vs S&P 500 | 0.78 | 1.66 |
| Max drawdown (3Y) | -54.8% | -67.1% |
| Market cap | $1.2B | $3.7B |
| P/E (trailing) | 96.4 | – |
| Dividend yield | 1.66% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRTN | RXO |
|---|---|---|
| 2022 | +16.7% | – |
| 2023 | +7.3% | +35.2% |
| 2024 | -24.6% | +2.5% |
| 2025 | -25.7% | -47.0% |
| 2026 | +28.1% | +76.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRTN and RXO good diversifiers for each other?
Only partially. A correlation of 0.70 means MRTN and RXO 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 MRTN and RXO?
As of 2026-08-27, the correlation of weekly returns between MRTN and RXO is 0.70 over 3 years, 0.74 over 1 year and 0.65 over 5 years.
Is RXO a good diversifier for MRTN?
Only partially. A correlation of 0.70 means MRTN and RXO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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/mrtn-vs-rxo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mrtn-vs-rxo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MRTN correlations · RXO correlations
