Old Dominion Correlations

ODFL Stock

USD 165.22 4.09 2.54%

The current 90-days correlation between Old Dominion Freight and ArcBest Corp is 0.67 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Old Dominion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Old Dominion Freight moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Old Dominion Correlation With Market

Very weak diversification

The correlation between Old Dominion Freight and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Old Dominion Freight and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Old Dominion Freight. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Old Stock

0.74	VLRS	Volaris	Pair Corr
0.63	AAL	American Airlines Aggressive Push	Pair Corr
0.72	ALK	Alaska Air Group Sell-off Trend	Pair Corr
0.74	DAL	Delta Air Lines	Pair Corr
0.74	NSC	Norfolk Southern	Pair Corr
0.72	UAL	United Airlines Holdings	Pair Corr
0.83	SAIA	Saia Inc	Pair Corr
0.66	SKYW	SkyWest	Pair Corr
0.75	SNCY	Sun Country Airlines	Pair Corr
0.66	TFII	TFI International	Pair Corr
0.72	ULCC	Frontier Group Holdings	Pair Corr
0.77	R	Ryder System	Pair Corr
0.61	BA	Boeing	Pair Corr
0.68	CR	Crane Company	Pair Corr
0.68	DY	Dycom Industries	Pair Corr

Moving against Old Stock

0.34

General Dynamics

Pair Corr

Related Correlations Analysis

	ARCB	MRTN	WERN	KNX	RXO	SAIA	SNDR	HTLD	TFII	ULH
ARCB		0.94	0.96	0.89	0.88	0.96	0.95	0.93	0.96	0.83	ARCB
MRTN	0.94		0.97	0.81	0.92	0.9	0.93	0.89	0.9	0.86	MRTN
WERN	0.96	0.97		0.9	0.93	0.93	0.97	0.94	0.93	0.87	WERN
KNX	0.89	0.81	0.9		0.82	0.91	0.92	0.93	0.86	0.75	KNX
RXO	0.88	0.92	0.93	0.82		0.81	0.91	0.81	0.88	0.93	RXO
SAIA	0.96	0.9	0.93	0.91	0.81		0.93	0.97	0.94	0.76	SAIA
SNDR	0.95	0.93	0.97	0.92	0.91	0.93		0.94	0.94	0.89	SNDR
HTLD	0.93	0.89	0.94	0.93	0.81	0.97	0.94		0.92	0.77	HTLD
TFII	0.96	0.9	0.93	0.86	0.88	0.94	0.94	0.92		0.88	TFII
ULH	0.83	0.86	0.87	0.75	0.93	0.76	0.89	0.77	0.88		ULH
	ARCB	MRTN	WERN	KNX	RXO	SAIA	SNDR	HTLD	TFII	ULH

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Risk-Adjusted Indicators

There is a big difference between Old Stock performing well and Old Dominion Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Old Dominion's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ARCB	1.73	(0.55)	(0.67)	3.39	(4.43)	9.75
MRTN	1.25	(0.28)	(0.55)	2.82	(2.68)	7.62
WERN	1.32	(0.35)	(0.50)	2.35	(2.98)	8.47
KNX	1.38	(0.25)	(0.30)	2.97	(2.70)	8.09
RXO	2.29	(0.46)	(0.48)	3.67	(5.17)	21.26
SAIA	2.31	(0.44)	(0.36)	3.58	(4.72)	15.36
SNDR	1.21	(0.37)	(0.46)	1.84	(3.06)	7.76
HTLD	1.42	(0.30)	(0.47)	2.61	(3.03)	8.33
TFII	1.77	(0.79)	(0.61)	2.03	(4.90)	23.82
ULH	2.29	(0.73)	(0.52)	3.82	(5.35)	23.09

Old Dominion Corporate Management

Cecil Overbey	Sr. VP of Marketing Pricing and Strategic Devel.	Profile
Clayton Brinker	VP Officer	Profile
Sam Faucette	Vice Compliance	Profile
Kimberly Maready	Principal Accounting Officer	Profile

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