ODFL vs SAIA: Correlation
Old Dominion (ODFL) and Saia, Inc. (SAIA) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ODFL and SAIA?
Over the past 3 years, ODFL and SAIA moved with a correlation of 0.74, which is strong. Recent behaviour matches the longer record: 0.82 over 1 year against 0.74 over 3. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 1288.5 %².
In ODFL's tracked universe of 36 assets, SAIA sits right near the top at #2. Over the last 12 months ODFL came out ahead by 14.3 percentage points (+30.9% against +16.6%).
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.
ODFL vs SAIA: side by side
| ODFL (Old Dominion) | SAIA (Saia, Inc.) | |
|---|---|---|
| 1-year return | +30.9% | +16.6% |
| 5-year return | +39.6% | +44.1% |
| Volatility (ann.) | 34.7% | 50.1% |
| Beta vs S&P 500 | 0.98 | 1.25 |
| Max drawdown (3Y) | -45.2% | -60.9% |
| Market cap | $41.6B | $9.4B |
| P/E (trailing) | 38.3 | 33.8 |
| Dividend yield | 0.57% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ODFL | SAIA |
|---|---|---|
| 2022 | -20.5% | -37.8% |
| 2023 | +43.5% | +109.0% |
| 2024 | -12.5% | +4.0% |
| 2025 | -10.5% | -28.4% |
| 2026 | +27.9% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ODFL and SAIA good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ODFL and SAIA?
As of 2026-08-27, the correlation of weekly returns between ODFL and SAIA is 0.74 over 3 years, 0.82 over 1 year and 0.76 over 5 years.
Is SAIA a good diversifier for ODFL?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/odfl-vs-saia.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/odfl-vs-saia/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ODFL correlations · SAIA correlations
