ODFL vs WERN: Correlation
Old Dominion (ODFL) and Werner Enterprises, Inc. (WERN) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ODFL and WERN?
Over the past 3 years, ODFL and WERN moved with a correlation of 0.67, which is strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.67 over 3. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 695.9 %².
Within ODFL's tracked universe of 36 assets, WERN comes in at #10 by 3-year correlation. The trailing year gives WERN the advantage: +30.9% versus +36.0%, a 5.1-point spread.
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 WERN: side by side
| ODFL (Old Dominion) | WERN (Werner Enterprises, Inc.) | |
|---|---|---|
| 1-year return | +30.9% | +36.0% |
| 5-year return | +39.6% | -14.3% |
| Volatility (ann.) | 34.7% | 29.9% |
| Beta vs S&P 500 | 0.98 | 0.80 |
| Max drawdown (3Y) | -45.2% | -44.5% |
| Market cap | $41.6B | $2.3B |
| P/E (trailing) | 38.3 | – |
| Dividend yield | 0.57% | 1.44% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ODFL | WERN |
|---|---|---|
| 2022 | -20.5% | -14.4% |
| 2023 | +43.5% | +6.6% |
| 2024 | -12.5% | -14.2% |
| 2025 | -10.5% | -14.9% |
| 2026 | +27.9% | +30.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ODFL and WERN good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ODFL and WERN?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.68 over the last year and 0.66 over 5 years.
Is WERN a good diversifier for ODFL?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/odfl-vs-wern.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/odfl-vs-wern/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ODFL correlations · WERN correlations
