OFIX vs RLGT: Correlation
How closely do Orthofix Medical Inc. (OFIX) and Radiant Logistics, Inc. (RLGT) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OFIX and RLGT?
Across a 3-year window, the weekly returns of OFIX and RLGT correlate at 0.50, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.10 versus 0.50 over 3 years. Stretching to 5 years gives 0.33, with an annualized covariance of 743.4 %².
RLGT is one of the assets that tracks OFIX most closely: it ranks #2 out of the 12 assets we track against OFIX. Their recent paths diverged sharply: over the last 12 months RLGT outperformed by 69.9 percentage points (-35.1% for OFIX against +34.8% for RLGT). One caveat on sizing: OFIX is 1.5 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.
OFIX vs RLGT: side by side
| OFIX (Orthofix Medical Inc.) | RLGT (Radiant Logistics, Inc.) | |
|---|---|---|
| 1-year return | -35.1% | +34.8% |
| 5-year return | -76.9% | +31.8% |
| Volatility (ann.) | 47.8% | 31.1% |
| Beta vs S&P 500 | 1.15 | 0.98 |
| Max drawdown (3Y) | -58.1% | -29.3% |
| Market cap | $0.4B | $0.4B |
| P/E (trailing) | – | 25.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OFIX | RLGT |
|---|---|---|
| 2022 | -34.0% | -30.2% |
| 2023 | -34.3% | +30.5% |
| 2024 | +29.5% | +0.9% |
| 2025 | -13.2% | -5.5% |
| 2026 | -36.5% | +37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OFIX and RLGT good diversifiers for each other?
Only partially. A correlation of 0.50 means OFIX and RLGT 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 OFIX and RLGT?
As of 2026-08-27, the correlation of weekly returns between OFIX and RLGT is 0.50 over 3 years, 0.10 over 1 year and 0.33 over 5 years.
Is RLGT a good diversifier for OFIX?
Only partially. A correlation of 0.50 means OFIX and RLGT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 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/ofix-vs-rlgt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ofix-vs-rlgt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OFIX correlations · RLGT correlations
