SAIA vs XPO: Correlation
Saia, Inc. (SAIA) and XPO, Inc. (XPO) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SAIA and XPO?
Over the past 3 years, SAIA and XPO moved with a correlation of 0.70, which is strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 1702.5 %².
In SAIA's tracked universe of 12 assets, XPO sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months XPO outperformed by 28.4 percentage points (+16.6% for SAIA against +45.0% for XPO).
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.
SAIA vs XPO: side by side
| SAIA (Saia, Inc.) | XPO (XPO, Inc.) | |
|---|---|---|
| 1-year return | +16.6% | +45.0% |
| 5-year return | +44.1% | +267.0% |
| Volatility (ann.) | 50.1% | 48.7% |
| Beta vs S&P 500 | 1.25 | 1.58 |
| Max drawdown (3Y) | -60.9% | -42.2% |
| Market cap | $9.4B | $22.4B |
| P/E (trailing) | 33.8 | 56.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SAIA | XPO |
|---|---|---|
| 2022 | -37.8% | -27.6% |
| 2023 | +109.0% | +163.1% |
| 2024 | +4.0% | +49.7% |
| 2025 | -28.4% | +3.6% |
| 2026 | +8.1% | +41.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SAIA and XPO good diversifiers for each other?
Only partially. A correlation of 0.70 means SAIA and XPO 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 SAIA and XPO?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.75 over the last year and 0.69 over 5 years.
Is XPO a good diversifier for SAIA?
Only partially. A correlation of 0.70 means SAIA and XPO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: SAIA correlations · XPO correlations
