ODFL vs UNP: Correlation
Old Dominion (ODFL) and Union Pacific Corporation (UNP) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ODFL and UNP?
On 3 years of weekly data the ODFL/UNP correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 365.4 %².
By 3-year correlation, UNP places #21 of the 36 assets tracked against ODFL. Over the last 12 months UNP came out ahead by 11.5 percentage points (+30.9% against +42.4%). Across three years, the rolling one-year figure varied moderately, from 0.23 to 0.69. One caveat on sizing: ODFL is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 UNP: side by side
| ODFL (Old Dominion) | UNP (Union Pacific Corporation) | |
|---|---|---|
| 1-year return | +30.9% | +42.4% |
| 5-year return | +39.6% | +56.5% |
| Volatility (ann.) | 34.7% | 20.6% |
| Beta vs S&P 500 | 0.98 | 0.56 |
| Max drawdown (3Y) | -45.2% | -17.8% |
| Market cap | $41.6B | $182.8B |
| P/E (trailing) | 38.3 | 25.1 |
| Dividend yield | 0.57% | 1.78% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ODFL | UNP |
|---|---|---|
| 2022 | -20.5% | -15.9% |
| 2023 | +43.5% | +21.6% |
| 2024 | -12.5% | -5.1% |
| 2025 | -10.5% | +3.9% |
| 2026 | +27.9% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ODFL and UNP good diversifiers for each other?
Only partially. A correlation of 0.51 means ODFL and UNP 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 ODFL and UNP?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.47 over the last year and 0.55 over 5 years.
Is UNP a good diversifier for ODFL?
Only partially. A correlation of 0.51 means ODFL and UNP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 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/odfl-vs-unp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/odfl-vs-unp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ODFL correlations · UNP correlations
