MRTN vs WERN: Correlation
Marten Transport, Ltd. (MRTN) and Werner Enterprises, Inc. (WERN) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRTN and WERN?
On 3 years of weekly data the MRTN/WERN correlation comes out at 0.77, strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. The 5-year figure is 0.73, and annualized covariance runs at 656.3 %².
Few assets follow MRTN as closely as WERN, which ranks #2 of 21 tracked partners. On 12-month performance WERN holds a 12.6-point edge, +23.4% 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.
MRTN vs WERN: side by side
| MRTN (Marten Transport, Ltd.) | WERN (Werner Enterprises, Inc.) | |
|---|---|---|
| 1-year return | +23.4% | +36.0% |
| 5-year return | -1.0% | -14.3% |
| Volatility (ann.) | 28.6% | 29.9% |
| Beta vs S&P 500 | 0.78 | 0.80 |
| Max drawdown (3Y) | -54.8% | -44.5% |
| Market cap | $1.2B | $2.3B |
| P/E (trailing) | 96.4 | – |
| Dividend yield | 1.66% | 1.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRTN | WERN |
|---|---|---|
| 2022 | +16.7% | -14.4% |
| 2023 | +7.3% | +6.6% |
| 2024 | -24.6% | -14.2% |
| 2025 | -25.7% | -14.9% |
| 2026 | +28.1% | +30.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRTN and WERN good diversifiers for each other?
Only partially. A correlation of 0.77 means MRTN 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 MRTN and WERN?
The MRTN/WERN correlation stands at 0.77 on a 3-year window (1 year: 0.75, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is WERN a good diversifier for MRTN?
Only partially. A correlation of 0.77 means MRTN 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 0.77 mean?
A reading of 0.77 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-wern.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mrtn-vs-wern/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MRTN correlations · WERN correlations
