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Relative Intelligence · Railroads

How CSX compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on CSX alone. It places CSX (CSX Corporation) against 9 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where CSX stands in the market, and of the alternatives worth a closer look.

Period covered: CSX's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against CSX →Chart CSX vs. 9 alternatives →
On this page12 sections

Key findings

How much would $10,000 in CSX have grown?

This chart tracks a hypothetical $10,000 investment in CSX over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of CSX over the same span and CSX's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 249 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of CSX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M199720022007201220172022$10,000$100,000$1M19972004201120182025
  • ODFL$2M+21,393% total · +20.3% a year
  • JBHT$749,311+7,393% total · +16.0% a year
  • CNI$468,127+4,581% total · +14.2% a year
  • CP$436,454+4,265% total · +13.9% a year
  • UNP$306,095+2,961% total · +12.5% a year
  • WAB$275,358+2,654% total · +12.1% a year
  • CSX$247,386+2,374% total · +11.7% a year
  • NSC$171,092+1,611% total · +10.3% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • TRN$40,975+310% total · +5.0% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,244 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of CSX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$15,000$20,000$25,000$30,000$35,000202120222023202420252026$0$10,000$20,000$30,000$40,000202120222023202420252026
  • WAB$34,242+242% total · +27.9% a year
  • ACT$24,734+147% total · +19.9% a year
  • CB$20,160+102% total · +15.1% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • SLF$18,746+87.5% total · +13.4% a year
  • BRK-B$18,244+82.4% total · +12.8% a year
  • CSX$16,737+67.4% total · +10.8% a year
  • UNP$15,540+55.4% total · +9.2% a year
  • NSC$14,343+43.4% total · +7.5% a year
  • ODFL$12,474+24.7% total · +4.5% a year
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CSX at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$89B
Industry
Railroads
Price history from
October 1986

Returns

Past 1 year
+32.8%total return
Past 3 years
+63.0%+17.7% a year
Past 5 years
+49.3%+8.3% a year
Past 10 years
+446%+18.5% a year
Best calendar year
+55.5%2017
Worst calendar year
−26.7%2015
Losing years
10 of 29full calendar years

Risk

Volatility
23.3%typical yearly swing, 5 years
Sharpe ratio
0.46return per unit of risk, 5 years
Worst decline ever
−69.2%May 2008 to Mar 2009
From its all-time high
−9.4%below the peak

CSX against the whole market

Where CSX ranks among every stock and fund, and what across the market has done better.

How does CSX rank among all stocks?

This section ranks CSX on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how CSX stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureCSXRankStanding
1-year return+32.8%899 of 3,287top 27%
3-year return+63.0%1,358 of 3,017top 45%
5-year return+49.3%1,101 of 2,893top 38%
10-year return+446%353 of 2,202top 16%
Volatility, 5 years23.3%224 of 2,893top 8%
Sharpe ratio, 5 years0.461,040 of 2,893top 36%
Worst decline, past 10 years−40.5%164 of 2,187top 7%

What has beaten CSX on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). CSX sits where the dashed lines cross. Anything in the green box above and to the left earned more than CSX with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to CSX; faint dots are 91 more of the 371 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

5.0%10.0%15.0%20.0%25.0%30.0%35.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CSXRY: +17.3% a year, volatility 18.2%JQUA: +13.6% a year, volatility 15.7%SPUS: +15.0% a year, volatility 19.5%ILCV: +12.7% a year, volatility 14.1%FTXH: +11.9% a year, volatility 16.9%HLAL: +14.0% a year, volatility 18.0%IDHQ: +10.0% a year, volatility 17.9%KO: +14.7% a year, volatility 16.8%NXTG: +16.2% a year, volatility 19.1%VTI: +11.5% a year, volatility 17.5%PJP: +11.2% a year, volatility 16.6%VOO: +12.8% a year, volatility 16.9%LGH: +9.4% a year, volatility 16.7%TD: +15.8% a year, volatility 20.0%MO: +17.8% a year, volatility 21.4%LVHI: +17.0% a year, volatility 11.1%BNS: +12.9% a year, volatility 19.9%IWD: +11.4% a year, volatility 14.7%NVS: +17.1% a year, volatility 20.7%SDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%LIN: +11.5% a year, volatility 20.9%PBA: +13.8% a year, volatility 21.5%VIG: +10.4% a year, volatility 14.1%HDV: +12.9% a year, volatility 13.0%EMXC: +11.1% a year, volatility 19.5%IWF: +11.7% a year, volatility 21.8%VT: +10.3% a year, volatility 16.2%RWL: +13.7% a year, volatility 14.4%PJUL: +10.5% a year, volatility 8.6%FJAN: +11.1% a year, volatility 10.5%AEP: +12.4% a year, volatility 20.2%SCHF: +9.5% a year, volatility 16.8%DYNF: +14.7% a year, volatility 17.5%ED: +12.0% a year, volatility 18.8%ATO: +14.9% a year, volatility 18.4%IUSG: +12.9% a year, volatility 21.2%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%NI: +15.1% a year, volatility 20.3%SPHQ: +12.0% a year, volatility 16.7%BUFR: +9.9% a year, volatility 10.5%DIVB: +13.9% a year, volatility 15.4%FV: +9.7% a year, volatility 21.1%PWV: +13.5% a year, volatility 14.2%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%DIVO: +11.1% a year, volatility 11.9%VPL: +9.5% a year, volatility 18.6%FVAL: +12.4% a year, volatility 16.4%VFMF: +14.3% a year, volatility 17.6%DBMF: +9.8% a year, volatility 12.4%USMC: +14.1% a year, volatility 16.4%CRAK: +19.8% a year, volatility 20.9%TDIV: +16.2% a year, volatility 21.3%MPLX: +23.5% a year, volatility 18.8%FYLD: +13.1% a year, volatility 16.0%IDMO: +13.3% a year, volatility 18.2%PTLC: +9.5% a year, volatility 11.8%DIVI: +13.4% a year, volatility 15.5%QVAL: +13.7% a year, volatility 21.4%BCI: +10.1% a year, volatility 16.7%FTHI: +10.3% a year, volatility 13.3%SCHY: +9.5% a year, volatility 13.3%FLQL: +13.8% a year, volatility 16.3%JMOM: +12.9% a year, volatility 19.1%HFXI: +11.4% a year, volatility 15.3%DSTL: +11.3% a year, volatility 16.1%DDWM: +12.3% a year, volatility 13.4%RLY: +9.9% a year, volatility 13.3%RAAX: +11.7% a year, volatility 15.6%INFL: +11.8% a year, volatility 17.8%DBA: +10.7% a year, volatility 13.8%TDVG: +9.6% a year, volatility 13.8%DBJP: +20.9% a year, volatility 19.2%PPH: +11.6% a year, volatility 15.8%PTNQ: +9.7% a year, volatility 14.1%UTES: +13.6% a year, volatility 21.1%EQL: +13.5% a year, volatility 14.5%ROUS: +12.3% a year, volatility 14.4%SIXH: +10.2% a year, volatility 10.2%EWJV: +14.9% a year, volatility 18.2%DGT: +13.8% a year, volatility 15.1%SFY: +13.9% a year, volatility 19.4%OUSA: +9.4% a year, volatility 13.4%FXU: +11.2% a year, volatility 16.6%DJD: +11.8% a year, volatility 13.3%EBF: +11.2% a year, volatility 21.4%BTI: +18.7% a year, volatility 22.0%CM: +19.2% a year, volatility 21.6%EPD: +16.4% a year, volatility 17.1%CSX: +8.3% a year, volatility 23.3%SPY (S&P 500): +12.7% a year, volatility 17.1%WAB: +25.6% a year, volatility 26.2%ACT: +20.5% a year, volatility 24.3%CB: +15.7% a year, volatility 20.4%BRK-B: +13.4% a year, volatility 17.1%SLF: +11.7% a year, volatility 19.4%TRV: +22.4% a year, volatility 22.3%AJG: +10.9% a year, volatility 24.2%RSG: +13.9% a year, volatility 18.5%JNJ: +12.7% a year, volatility 17.9%SCHD: +9.7% a year, volatility 14.3%FAST: +15.8% a year, volatility 24.6%SPMO: +18.7% a year, volatility 20.8%MGV: +12.6% a year, volatility 13.4%LLY: +40.7% a year, volatility 32.8%IEFA: +8.3% a year, volatility 16.6%DXJ: +26.6% a year, volatility 19.1%AFL: +19.0% a year, volatility 20.8%CSXSPY (S&P 500)WABACTCBBRK-BTRVAJGSCHDFASTSPMOMGVLLYIEFADXJAFL0.0%10.0%20.0%30.0%40.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CSXRY: +17.3% a year, volatility 18.2%JQUA: +13.6% a year, volatility 15.7%SPUS: +15.0% a year, volatility 19.5%ILCV: +12.7% a year, volatility 14.1%FTXH: +11.9% a year, volatility 16.9%HLAL: +14.0% a year, volatility 18.0%IDHQ: +10.0% a year, volatility 17.9%KO: +14.7% a year, volatility 16.8%NXTG: +16.2% a year, volatility 19.1%VTI: +11.5% a year, volatility 17.5%PJP: +11.2% a year, volatility 16.6%VOO: +12.8% a year, volatility 16.9%LGH: +9.4% a year, volatility 16.7%TD: +15.8% a year, volatility 20.0%MO: +17.8% a year, volatility 21.4%LVHI: +17.0% a year, volatility 11.1%BNS: +12.9% a year, volatility 19.9%IWD: +11.4% a year, volatility 14.7%NVS: +17.1% a year, volatility 20.7%SDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%LIN: +11.5% a year, volatility 20.9%PBA: +13.8% a year, volatility 21.5%VIG: +10.4% a year, volatility 14.1%HDV: +12.9% a year, volatility 13.0%EMXC: +11.1% a year, volatility 19.5%IWF: +11.7% a year, volatility 21.8%VT: +10.3% a year, volatility 16.2%RWL: +13.7% a year, volatility 14.4%PJUL: +10.5% a year, volatility 8.6%FJAN: +11.1% a year, volatility 10.5%AEP: +12.4% a year, volatility 20.2%SCHF: +9.5% a year, volatility 16.8%DYNF: +14.7% a year, volatility 17.5%ED: +12.0% a year, volatility 18.8%ATO: +14.9% a year, volatility 18.4%IUSG: +12.9% a year, volatility 21.2%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%NI: +15.1% a year, volatility 20.3%SPHQ: +12.0% a year, volatility 16.7%BUFR: +9.9% a year, volatility 10.5%DIVB: +13.9% a year, volatility 15.4%FV: +9.7% a year, volatility 21.1%PWV: +13.5% a year, volatility 14.2%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%DIVO: +11.1% a year, volatility 11.9%VPL: +9.5% a year, volatility 18.6%FVAL: +12.4% a year, volatility 16.4%VFMF: +14.3% a year, volatility 17.6%DBMF: +9.8% a year, volatility 12.4%USMC: +14.1% a year, volatility 16.4%CRAK: +19.8% a year, volatility 20.9%TDIV: +16.2% a year, volatility 21.3%MPLX: +23.5% a year, volatility 18.8%FYLD: +13.1% a year, volatility 16.0%IDMO: +13.3% a year, volatility 18.2%PTLC: +9.5% a year, volatility 11.8%DIVI: +13.4% a year, volatility 15.5%QVAL: +13.7% a year, volatility 21.4%BCI: +10.1% a year, volatility 16.7%FTHI: +10.3% a year, volatility 13.3%SCHY: +9.5% a year, volatility 13.3%FLQL: +13.8% a year, volatility 16.3%JMOM: +12.9% a year, volatility 19.1%HFXI: +11.4% a year, volatility 15.3%DSTL: +11.3% a year, volatility 16.1%DDWM: +12.3% a year, volatility 13.4%RLY: +9.9% a year, volatility 13.3%RAAX: +11.7% a year, volatility 15.6%INFL: +11.8% a year, volatility 17.8%DBA: +10.7% a year, volatility 13.8%TDVG: +9.6% a year, volatility 13.8%DBJP: +20.9% a year, volatility 19.2%PPH: +11.6% a year, volatility 15.8%PTNQ: +9.7% a year, volatility 14.1%UTES: +13.6% a year, volatility 21.1%EQL: +13.5% a year, volatility 14.5%ROUS: +12.3% a year, volatility 14.4%SIXH: +10.2% a year, volatility 10.2%EWJV: +14.9% a year, volatility 18.2%DGT: +13.8% a year, volatility 15.1%SFY: +13.9% a year, volatility 19.4%OUSA: +9.4% a year, volatility 13.4%FXU: +11.2% a year, volatility 16.6%DJD: +11.8% a year, volatility 13.3%EBF: +11.2% a year, volatility 21.4%BTI: +18.7% a year, volatility 22.0%CM: +19.2% a year, volatility 21.6%EPD: +16.4% a year, volatility 17.1%CSX: +8.3% a year, volatility 23.3%SPY (S&P 500): +12.7% a year, volatility 17.1%WAB: +25.6% a year, volatility 26.2%ACT: +20.5% a year, volatility 24.3%CB: +15.7% a year, volatility 20.4%BRK-B: +13.4% a year, volatility 17.1%SLF: +11.7% a year, volatility 19.4%TRV: +22.4% a year, volatility 22.3%AJG: +10.9% a year, volatility 24.2%RSG: +13.9% a year, volatility 18.5%JNJ: +12.7% a year, volatility 17.9%SCHD: +9.7% a year, volatility 14.3%FAST: +15.8% a year, volatility 24.6%SPMO: +18.7% a year, volatility 20.8%MGV: +12.6% a year, volatility 13.4%LLY: +40.7% a year, volatility 32.8%IEFA: +8.3% a year, volatility 16.6%DXJ: +26.6% a year, volatility 19.1%AFL: +19.0% a year, volatility 20.8%CSXSPY (S&P 500)WABACTCBBRK-BTRVSCHDFASTSPMOLLYDXJAFL
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than CSX?

Investments that beat CSX over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat CSX over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks CSX's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than CSX follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than CSX's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× CSX's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than CSX's.

Screen the whole market against CSX for any period in BetterThanSPYOpen these 16 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with CSX?lower diversifies moreExpenseper year
CSXCSX Corporation · this page
+8.3%23.3%0.46−40.5%+446%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.730.09%
Popular alternativesbest 1 shownThe investments people most often weigh against CSX. 1 of 9 passed at least one test.
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Higher return in most periods+25.6%26.2%1.00−64.1%+264%0.59—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Railroads and the categories next to it (Freight & Logistics, Industrial Machinery, Insurance, Equipment Rental), plus CSX's specific themes. 37 of 114 passed at least one test.
ACTEnact Holdings Inc. · Insurance
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.5%24.3%0.89−20.2%—0.34—
CBChubb Limited · Property & Casualty Insurance
Higher return, lower volatilityHigher return in most periods+15.7%20.4%0.82−42.6%+248%0.44—
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst decline+13.4%17.1%0.82−29.6%+274%0.44—
SLFSun Life Financial Inc. · Life Insurance
Higher return, lower volatilityHigher return in most periods+11.7%19.4%0.67−50.8%+255%0.68—
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Higher return, similar volatilityHigher return in most periods+22.4%22.3%1.02−46.3%+347%0.48—
AJGArthur J. Gallagher & Co. · Insurance
Higher return in most periodsSmaller losses in recent crashes+10.9%24.2%0.55−44.4%+516%0.41—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 694 of 3,510 passed at least one test.
RSGRepublic Services, Inc. · Environmental Services
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+13.9%18.5%0.80−34.0%+446%0.46—
JNJJohnson & Johnson · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.7%17.9%0.76−27.4%+196%0.35—
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+9.7%14.3%0.72−33.4%+252%0.650.06%
FASTFastenal Company · Industrial Distribution
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+15.8%24.6%0.72−30.7%+576%0.57—
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.7%20.8%0.93−30.9%+499%0.590.13%
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.6%13.4%0.95−35.4%+244%0.720.05%
LLYEli Lilly and Company · Pharmaceuticals
Higher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.06—
IEFAiShares Core MSCI EAFE ETF · Developed International Equity
Similar return, lower volatilityHigher Sharpe, smaller worst decline+8.3%16.6%0.56−34.8%+140%0.610.07%
What these numbers mean for CSX
Annual return
CSX returned 8.3% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $14,900. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
CSX's volatility over the past 5 years was 23.3%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CSX's return lands within 23.3% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
CSX's Sharpe ratio over the past 5 years was 0.46, against 0.79 for the S&P 500, so CSX earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
CSX's worst fall from a peak to a low over the past 10 years was 40.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 40.5% fall takes a 68.2% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, CSX's monthly returns had a correlation of 0.73 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against CSX instead: the lower it is, the more that option would diversify a CSX holding. Guide: Correlation and diversification →
Show all 371 stocks and funds worth at least $500 million that earned more than CSX with less volatility

Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with CSXExpense
1
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.46—
2
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.35—
3
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Whole market+9.7%14.3%0.72−33.4%+252%0.650.06%
4
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.590.13%
5
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value
Whole market+12.6%13.4%0.95−35.4%+244%0.720.05%
6
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.42—
7
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.740.12%
8
SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology
Whole market+15.0%19.5%0.82−30.8%—0.670.45%
9
ILCViShares Morningstar Value ETF · Broad Market
Whole market+12.7%14.1%0.92−35.5%+220%0.730.04%
10
FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Healthcare
Whole market+11.9%16.9%0.75−32.1%+153%0.440.60%
11
HLALWahed FTSE USA Shariah ETF · Broad Market
Whole market+14.0%18.0%0.82−33.6%—0.660.50%
12
IDHQInvesco S&P International Developed Quality ETF · International
Whole market+10.0%17.9%0.63−33.6%+183%0.640.29%
13
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.460.48%
14
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.37—
15
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.510.70%
16
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.740.03%
17
PJPInvesco Pharmaceuticals ETF · Healthcare
Whole market+11.2%16.6%0.72−34.0%+135%0.350.58%
18
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.730.03%
19
LGHHCM Defender 500 Index ETF · Broad Market
Whole market+9.4%16.7%0.63−29.6%—0.661.00%
20
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.51—
21
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.30—
22
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.570.40%
23
BNSThe Bank of Nova Scotia · Banks
Whole market+12.9%19.9%0.71−46.9%+187%0.57—
24
IWDiShares Russell 1000 Value ETF · US Large-Cap Value
Whole market+11.4%14.7%0.81−38.5%+205%0.750.18%
25
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.33—
26
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.200.80%
27
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.110.40%
28
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.58—
29
PBAPembina Pipeline Corporation · Oil & Gas Midstream
Whole market+13.8%21.5%0.71−70.9%+172%0.52—
30
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.790.04%
31
HDViShares Core High Dividend ETF · US Dividend Equity
Whole market+12.9%13.0%1.00−37.0%+172%0.570.08%
32
EMXCiShares MSCI Emerging Markets ex China ETF · Emerging Markets Equity
Whole market+11.1%19.5%0.64−42.8%—0.520.25%
33
IWFiShares Russell 1000 Growth ETF · US Large-Cap Growth
Whole market+11.7%21.8%0.62−32.7%+416%0.620.18%
34
VTVanguard Total World Stock ETF · Global Equity
Whole market+10.3%16.2%0.69−34.2%+223%0.720.06%
35
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.750.39%
36
PJULInnovator U.S. Equity Power Buffer ETF · Broad Market
Whole market+10.5%8.6%1.20−18.2%—0.700.79%
37
CBChubb Limited · Property & Casualty Insurance
Same or nearby category+15.7%20.4%0.82−42.6%+248%0.44—
38
FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset
Whole market+11.1%10.5%1.05−13.6%—0.620.85%
39
AEPAmerican Electric Power Company, Inc. · Electric Utilities
Whole market+12.4%20.2%0.68−32.9%+185%0.52—
40
SCHFSchwab International Equity ETF · Developed International Equity
Whole market+9.5%16.8%0.63−34.9%+155%0.630.03%
41
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.710.26%
42
BRK-BBerkshire Hathaway Inc. · Insurance
Same or nearby category+13.4%17.1%0.82−29.6%+274%0.44—
43
EDConsolidated Edison, Inc. · Electric Utilities
Whole market+12.0%18.8%0.70−30.9%+114%0.34—
44
ATOAtmos Energy Corporation · Gas Utilities
Whole market+14.9%18.4%0.85−32.9%+194%0.50—
45
SLFSun Life Financial Inc. · Life Insurance
Same or nearby category+11.7%19.4%0.67−50.8%+255%0.68—
46
IUSGiShares Core S&P U.S. Growth ETF · US Growth Equity
Whole market+12.9%21.2%0.68−32.4%+405%0.660.04%
47
DFIVDimensional - International Value ETF · International Equity
Whole market+14.8%16.4%0.93−25.4%—0.550.27%
48
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+14.0%16.9%0.86−19.5%—0.740.15%
49
NINiSource Inc · Gas Utilities
Whole market+15.1%20.3%0.80−30.9%+158%0.47—
50
SPHQInvesco S&P 500 Quality ETF · US Quality Equity
Whole market+12.0%16.7%0.76−31.6%+300%0.690.20%
51
BUFRFT Vest Laddered Buffer ETF · Buffered Equity
Whole market+9.9%10.5%0.96−13.7%—0.710.10%
52
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.720.05%
53
FVFirst Trust Dorsey Wright Focus 5 ETF · Broad Market
Whole market+9.7%21.1%0.55−34.0%+247%0.620.30%
54
PWVInvesco Large Cap Value ETF · Broad Market
Whole market+13.5%14.2%0.97−37.6%+223%0.730.55%
55
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+13.1%13.8%0.96−32.5%+206%0.680.35%
56
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.660.40%
57
DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income
Whole market+11.1%11.9%0.95−30.0%—0.760.56%
58
VPLVanguard FTSE Pacific ETF · International Equity
Whole market+9.5%18.6%0.58−33.9%+141%0.570.07%
59
FVALFidelity Value Factor ETF · Broad Market
Whole market+12.4%16.4%0.80−37.3%+291%0.700.15%
60
VFMFVanguard U.S. Multifactor ETF · Broad Market
Whole market+14.3%17.6%0.85−41.3%—0.720.18%
61
DBMFiMGP DBi Managed Futures Strategy ETF · Alternatives
Whole market+9.8%12.4%0.82−20.4%—-0.040.85%
62
USMCPrincipal U.S. Mega-Cap ETF · Broad Market
Whole market+14.1%16.4%0.89−30.0%—0.680.12%
63
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.420.61%
64
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.560.50%
65
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.44—
66
FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income
Whole market+13.1%16.0%0.85−44.6%+203%0.560.59%
67
IDMOInvesco S&P International Developed Momentum ETF · International Equity
Whole market+13.3%18.2%0.78−31.3%+229%0.660.25%
68
PTLCPacer Trendpilot US Large Cap ETF · Broad Market
Whole market+9.5%11.8%0.83−26.6%+188%0.540.60%
69
DIVIFranklin International Core Dividend Tilt Index ETF · International
Whole market+13.4%15.5%0.89−27.7%+184%0.600.09%
70
QVALAlpha Architect U.S. Quantitative Value ETF · Broad Market
Whole market+13.7%21.4%0.71−51.5%+230%0.650.28%
71
BCIabrdn Bloomberg All Commodity Strategy K-1 Free ETF · Alternatives
Whole market+10.1%16.7%0.66−32.7%—0.170.26%
72
FTHIFirst Trust BuyWrite Income ETF · Dividend & Income
Whole market+10.3%13.3%0.81−32.7%+126%0.700.75%
73
SCHYSchwab International Dividend Equity ETF · International
Whole market+9.5%13.3%0.75−24.0%—0.530.08%
74
FLQLFranklin U.S. Large Cap Multifactor Index ETF · Broad Market
Whole market+13.8%16.3%0.88−33.6%—0.720.15%
75
JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market
Whole market+12.9%19.1%0.73−34.3%—0.730.12%
76
HFXINYLI FTSE International Equity Currency Neutral ETF · International
Whole market+11.4%15.3%0.79−32.4%+180%0.640.19%
77
DSTLDistillate U.S. Fundamental Stability & Value ETF · Broad Market
Whole market+11.3%16.1%0.75−33.1%—0.700.39%
78
DDWMWisdomTree Dynamic International Equity Fund · International
Whole market+12.3%13.4%0.94−35.0%+149%0.580.40%
79
RLYState Street Multi-Asset Real Return ETF · Multi-Asset
Whole market+9.9%13.3%0.78−34.2%+128%0.560.50%
80
RAAXVanEck Real Assets ETF · Commodities
Whole market+11.7%15.6%0.79−33.9%—0.600.55%
81
INFLHorizon Kinetics Inflation Beneficiaries ETF · Broad Market
Whole market+11.8%17.8%0.72−21.3%—0.620.85%
82
DBAInvesco DB Agriculture Fund · Alternatives
Whole market+10.7%13.8%0.81−35.3%+62.2%0.070.90%
83
TDVGT. Rowe Price Dividend Growth ETF · Dividend & Income
Whole market+9.6%13.8%0.73−19.2%—0.790.50%
84
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.490.45%
85
PPHVanEck Pharmaceutical ETF · Healthcare
Whole market+11.6%15.8%0.78−29.7%+153%0.390.36%
86
PTNQPacer Trendpilot 100 ETF · Technology
Whole market+9.7%14.1%0.73−28.1%+305%0.380.65%
87
UTESVirtus Reaves Utilities ETF · Alternatives
Whole market+13.6%21.1%0.71−35.4%+210%0.630.49%
88
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.780.19%
89
ROUSHartford Multifactor US Equity ETF · Broad Market
Whole market+12.3%14.4%0.88−35.5%+238%0.770.19%
90
SIXHETC 6 Meridian Hedged Equity Index Option ETF · Broad Market
Whole market+10.2%10.2%1.00−11.7%—0.460.31%
91
EWJViShares MSCI Japan Value ETF · International
Whole market+14.9%18.2%0.86−30.1%—0.420.15%
92
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.660.50%
93
SFYSoFi Select 500 ETF · Broad Market
Whole market+13.9%19.4%0.77−33.3%—0.690.19%
94
OUSAALPS Funds O’Shares U.S. Quality Dividend ETF · Dividend & Income
Whole market+9.4%13.4%0.74−33.1%+186%0.710.48%
95
FXUFirst Trust Utilities AlphaDEX Fund · Utilities
Whole market+11.2%16.6%0.72−34.8%+138%0.610.61%
96
DJDInvesco Dow Jones Industrial Average Dividend ETF · Dividend & Income
Whole market+11.8%13.3%0.91−34.7%+227%0.650.07%
97
EBFEnnis, Inc. · Specialty Business Services
Whole market+11.2%21.4%0.60−35.4%+163%0.31—
98
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%0.17—
99
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.53—
100
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Whole market+16.4%17.1%0.98−58.1%+178%0.47—

CSX against its popular alternatives

The investments people most often weigh against CSX, compared period by period and year by year.

How do CSX's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at CSX, which divides the map into what did better or worse on each measure.

Green points earned more than CSX with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCSX: 8.3% a year, volatility 23.3%SPY (S&P 500): 12.7% a year, volatility 17.1%ODFL: 4.3% a year, volatility 36.9%NSC: 5.3% a year, volatility 24.8%JBHT: 4.0% a year, volatility 32.8%CP: 4.0% a year, volatility 24.1%TRN: 0.5% a year, volatility 35.7%GBX: −2.0% a year, volatility 42.2%WAB: 25.6% a year, volatility 26.2%UNP: 7.1% a year, volatility 22.9%CNI: 0.6% a year, volatility 21.9%CSXSPY (S&P 500)ODFLNSCJBHTCPTRNGBXWABUNPCNI10.0%20.0%30.0%40.0%50.0%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCSX: 8.3% a year, volatility 23.3%SPY (S&P 500): 12.7% a year, volatility 17.1%ODFL: 4.3% a year, volatility 36.9%NSC: 5.3% a year, volatility 24.8%JBHT: 4.0% a year, volatility 32.8%CP: 4.0% a year, volatility 24.1%TRN: 0.5% a year, volatility 35.7%GBX: −2.0% a year, volatility 42.2%WAB: 25.6% a year, volatility 26.2%UNP: 7.1% a year, volatility 22.9%CNI: 0.6% a year, volatility 21.9%CSXSPY (S&P 500)ODFLNSCJBHTCPTRNGBXWABUNPCNI
All figures
InvestmentAnnual returnVolatility
WAB Westinghouse Air Brake Technologies Corporation+25.6%26.2%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
CSX This pageCSX Corporation+8.3%23.3%
UNP Union Pacific Corporation+7.1%22.9%
NSC Norfolk Southern Corporation+5.3%24.8%
ODFL Old Dominion Freight Line, Inc.+4.3%36.9%
CP Canadian Pacific Kansas City Ltd.+4.0%24.1%
JBHT J.B. Hunt Transport Services, Inc.+4.0%32.8%
CNI Canadian National Railway Company+0.6%21.9%
TRN Trinity Industries, Inc.+0.5%35.7%
GBX The Greenbrier Companies, Inc.−2.0%42.2%
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Has CSX consistently beaten its popular alternatives?

This section compares CSX with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than CSX helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than CSX over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
CSX CSX Corporation (this page)—+4.5%−3.8%+10.6%+33.7%+32.8%+63.0%+49.3%+446%23.3%0.46−40.5%—$89B—
WAB RailroadsWestinghouse Air Brake Technologies Corporation2/5 short2/3 long+0.1%+10.1%+7.6%+31.6%+45.3%+189%+212%+264%26.2%1.00−64.1%—$48B—
ODFL TruckingOld Dominion Freight Line, Inc.2/5 short1/3 long+7.4%−18.6%−15.5%+18.8%+34.7%−2.5%+23.4%+747%36.9%0.30−45.2%—$39B—
NSC RailroadsNorfolk Southern Corporation2/5 short1/3 long+5.3%−2.4%+7.9%+14.6%+13.8%+72.0%+29.5%+328%24.8%0.33−44.4%—$73B—
UNP RailroadsUnion Pacific Corporation3/5 short0/3 long+6.7%−2.5%+15.2%+25.9%+29.2%+45.4%+41.2%+295%22.9%0.42−38.7%—$171B—
JBHT Integrated Freight & LogisticsJ.B. Hunt Transport Services, Inc.1/5 short0/3 long−4.1%−22.0%−9.7%+15.7%+37.9%+32.2%+21.6%+220%32.8%0.28−42.4%—$21B—
CP RailroadsCanadian Pacific Kansas City Ltd.0/5 short0/3 long+0.8%−4.5%+7.4%+18.1%+15.1%+25.6%+21.6%+227%24.1%0.28−33.7%—$77B—
CNI RailroadsCanadian National Railway Company0/5 short0/3 long+3.2%−3.8%+10.2%+23.0%+30.2%+21.9%+3.1%+124%21.9%0.14−29.1%—$73B—
TRN RailroadsTrinity Industries, Inc.0/5 short0/3 long−9.9%−31.1%−20.6%−4.1%−8.8%+29.7%+2.5%+107%35.7%0.19−45.2%—$2.0B—
GBX RailroadsThe Greenbrier Companies, Inc.0/5 short0/3 long−10.4%−24.1%−23.3%−18.8%−15.7%−0.7%−9.4%+38.6%42.2%0.16−78.7%—$1.2B—
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How did CSX do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where CSX ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with CSX and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of CSX; gray means the two finished within a fraction of a point. The rank row places CSX among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of CSX20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
CSX This pageCSX Corporation—+14.2%−5.6%+13.5%−16.6%+25.7%+27.1%+18.0%+14.5%+55.5%+42.1%−26.7%+28.4%+49.3%−3.9%−0.2%+35.7%+53.2%−24.9%+29.6%+37.0%+27.9%+12.4%+30.5%−18.6%+38.2%−12.8%−22.5%−21.1%+30.6%
Rank among alternativesTop quarter in 9 of 293 of 106 of 106 of 108 of 106 of 103 of 107 of 101 of 101 of 102 of 107 of 104 of 107 of 108 of 1010 of 105 of 102 of 107 of 103 of 101 of 103 of 108 of 107 of 109 of 104 of 108 of 105 of 107 of 105 of 10
SPY S&P 500State Street SPDR S&P 500 ETF12 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
WAB Westinghouse Air Brake Technologies Corporation13 of 29+13.2%+50.1%+28.0%+9.1%+26.5%−5.2%+11.5%−13.3%−1.4%+17.3%−17.9%+17.3%+70.1%+25.4%+32.4%+29.7%+2.8%+15.6%+13.5%+13.1%+26.5%+25.4%+21.8%+14.6%+4.9%−33.5%−27.2%−4.5%+104%
ODFL Old Dominion Freight Line, Inc.18 of 29−10.5%−12.5%+43.5%−20.5%+84.2%+54.8%+54.3%−5.8%+53.9%+45.3%−23.9%+46.5%+54.6%+26.9%+26.6%+56.2%+7.9%+23.5%−4.4%−10.5%+16.1%+53.7%+78.3%+125%+33.5%−11.6%−5.5%−25.4%+43.5%
NSC Norfolk Southern Corporation13 of 29+25.7%+1.6%−1.6%−15.6%+27.3%+24.8%+32.4%+5.2%+36.8%+31.5%−20.3%+20.8%+54.2%−12.7%+18.8%+22.8%+15.2%−4.8%+2.2%+13.8%+25.6%+55.3%+20.2%+10.4%+39.5%−31.8%−33.5%+6.6%+6.6%
UNP Union Pacific Corporation13 of 29+3.9%−5.1%+21.6%−15.9%+23.3%+17.6%+33.7%+5.3%+32.3%+36.0%−32.9%+44.5%+36.3%+21.2%+16.7%+47.6%+36.6%−22.7%+38.3%+15.8%+21.8%−1.3%+17.9%+6.5%+14.0%+18.7%−1.5%−26.8%+7.0%
JBHT J.B. Hunt Transport Services, Inc.16 of 29+15.2%−13.8%+15.6%−13.9%+50.6%+18.1%+26.8%−18.4%+19.6%+33.8%−12.0%+10.1%+30.2%+34.2%+11.8%+28.2%+24.8%−3.4%+34.4%−6.9%+2.1%+66.5%+84.3%+26.4%+38.0%+21.6%−38.9%+23.8%+35.7%
CP Canadian Pacific Kansas City Ltd.12 of 29+2.6%−7.8%+6.8%+4.5%+4.7%+37.4%+45.1%−1.8%+29.4%+13.0%−33.3%+28.3%+50.5%+52.7%+6.5%+22.2%+64.1%−47.1%+24.2%+27.5%+23.9%+24.6%+45.2%+3.5%+40.6%+35.6%+17.3%−29.0%+4.1%
CNI Canadian National Railway Company14 of 29−0.1%−17.5%+7.8%−1.4%+13.7%+23.6%+24.3%−8.6%+24.4%+22.8%−17.6%+22.6%+27.3%+17.9%+20.3%+24.4%+51.4%−20.1%+10.9%+9.2%+32.6%+47.4%+55.3%−12.3%+65.5%+14.8%+4.3%+11.6%+26.8%
TRN Trinity Industries, Inc.11 of 29−21.5%+37.2%−6.2%+1.5%+17.9%+23.8%+11.1%−22.4%+37.1%+18.0%−12.9%+3.7%+54.1%+20.9%+14.2%+55.1%+13.3%−42.6%−20.6%+20.6%+30.2%+11.5%+64.6%−29.0%+12.2%−9.0%−24.7%−12.2%+21.4%
GBX The Greenbrier Companies, Inc.13 of 29−21.3%+41.3%+36.3%−24.8%+29.4%+17.7%−15.5%−24.3%+30.8%+31.9%−38.4%+64.4%+103%−33.4%+15.6%+102%+51.8%−68.3%−24.9%+6.7%−15.3%+103%+135%−1.6%−8.8%−0.2%−36.6%−17.1%+69.8%
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Risk and diversification

How CSX has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were CSX's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents CSX's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means CSX fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringCSX fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−69.2%−50.4%May 2008Mar 200910 monthsJan 201122 months
Dot-com bust−65.1%+60.9%Jul 1997Jun 20002.9 yearsDec 20055.5 years
No named crash−44.4%—Aug 1987Oct 19872 monthsAug 198922 months
2015 China and oil sell-off−40.8%−7.2%Nov 2014Jan 201614 monthsDec 201611 months
Covid crash−40.5%−33.4%Feb 2020Mar 20201 monthSep 20206 months

How did CSX do in stock market crashes?

This section measures how far CSX, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than CSX.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
CSX This pageCSX Corporation—−4.0%−29.4%−40.5%−21.4%−8.7%−26.5%−27.4%−0.9%−69.2%−37.5%
SPY S&P 500State Street SPDR S&P 500 ETF8 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
WAB Westinghouse Air Brake Technologies Corporation5 of 10−6.4%−18.9%−48.3%−37.9%−2.9%−40.5%−26.1%−2.4%−60.8%−33.7%
ODFL Old Dominion Freight Line, Inc.4 of 10−6.0%−34.5%−28.6%−28.4%−10.3%−31.0%−26.2%−3.6%−50.7%−33.3%
NSC Norfolk Southern Corporation4 of 10−4.0%−28.4%−43.6%−23.8%−5.6%−31.7%−21.1%−2.1%−62.9%−39.9%
UNP Union Pacific Corporation5 of 10−4.2%−29.8%−37.5%−21.9%−4.8%−28.7%−23.4%−1.5%−59.5%−25.6%
JBHT J.B. Hunt Transport Services, Inc.6 of 10−5.5%−28.8%−31.5%−26.6%−3.0%−18.8%−24.8%−2.4%−53.1%−50.9%
CP Canadian Pacific Kansas City Ltd.6 of 10−3.0%−19.9%−32.9%−24.4%−4.3%−35.1%−29.8%−0.4%−65.4%−35.7%
CNI Canadian National Railway Company8 of 10−1.3%−21.0%−27.3%−22.1%−5.1%−23.9%−19.3%−0.5%−46.7%−30.6%
TRN Trinity Industries, Inc.2 of 10−11.7%−38.5%−34.4%−30.8%−5.4%−32.8%−43.3%−4.6%−83.9%−45.9%
GBX The Greenbrier Companies, Inc.1 of 10−12.0%−53.9%−50.1%−41.2%−5.9%−53.6%−51.5%−8.0%−93.5%−56.9%
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How closely does CSX move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares CSX with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than CSX's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
CSX This pageCSX Corporation118%117%1.001.19
ODFL Old Dominion Freight Line, Inc.127%107%1.191.10
WAB Westinghouse Air Brake Technologies Corporation111%127%0.871.28
UNP Union Pacific Corporation104%119%0.871.05
CP Canadian Pacific Kansas City Ltd.96%113%0.851.00
NSC Norfolk Southern Corporation123%147%0.841.30
JBHT J.B. Hunt Transport Services, Inc.109%137%0.791.18
CNI Canadian National Railway Company80%105%0.770.89
TRN Trinity Industries, Inc.110%165%0.671.38
GBX The Greenbrier Companies, Inc.124%211%0.591.50
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What diversifies CSX?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with CSX's. Because such investments tend not to fall at the same time, pairing CSX with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which CSX lost money. The last two columns show a portfolio that is 80% CSX and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202420222015201220112008200220001999199880/20 mix volatility80/20 mix annual return
CSX CSX Corporation (this page)1.00+49.3%0.46−5.6%−16.6%−26.7%−3.9%−0.2%−24.9%−18.6%−12.8%−22.5%−21.1%25.8%+10.8%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.46+225%1.34+29.8%+6.0%+7.7%+19.6%−16.1%−20.8%————21.9%+14.4%
GCOW InternationalPacer Global Cash Cows Dividend ETF0.46+93.4%1.04+3.5%+5.5%————————22.2%+11.8%
SMH TechnologyVanEck Semiconductor ETF0.49+323%0.97+39.1%−33.5%−0.3%+8.6%+6.8%−44.7%−47.0%———24.8%+16.6%
GLD CommoditiesSPDR Gold Shares0.11+126%0.96+26.7%−0.8%−10.7%+6.6%+9.6%+4.9%————21.3%+13.1%
XLE EnergyState Street Energy Select Sector SPDR ETF0.34+177%0.93+5.6%+64.4%−21.5%+5.2%+2.8%−39.0%−14.8%+24.4%+18.1%—22.9%+14.0%
EWT TechnologyiShares MSCI Taiwan ETF0.48+153%0.89+16.1%−28.9%−12.9%+18.6%−21.8%−45.3%−24.4%———23.5%+13.5%
EUFN InternationaliShares MSCI Europe Financials ETF0.48+133%0.89+17.2%−8.8%−4.7%+35.4%−26.6%—————22.9%+13.3%
AMLP EnergyAlerian MLP ETF0.44+111%0.89+22.8%+25.5%−25.7%+1.9%+10.2%—————22.5%+12.8%

Stocks

InvestmentCorrelation5Y returnSharpe202420222015201220112008200220001999199880/20 mix volatility80/20 mix annual return
CSX CSX Corporation (this page)1.00+49.3%0.46−5.6%−16.6%−26.7%−3.9%−0.2%−24.9%−18.6%−12.8%−22.5%−21.1%25.8%+10.8%
CAH Medical - DistributionCardinal Health, Inc.0.38+479%1.55+19.0%+54.1%+12.6%+3.8%+8.1%−39.6%−8.3%+108%−36.8%+51.7%23.2%+16.5%
CLS Hardware, Equipment & PartsCelestica Inc.0.34+3,143%1.47+215%+1.3%−6.0%+11.2%−24.4%−20.5%−65.1%−2.3%+350%—27.0%+28.9%
MCK Medical - DistributionMcKesson Corporation0.38+413%1.44+23.7%+51.8%−4.5%+25.6%+11.8%−40.4%−27.2%+61.2%−71.3%+46.9%23.1%+16.0%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.30+690%1.41−4.0%+86.6%+17.4%+94.3%——————23.4%+18.6%
ATI Manufacturing - Metal FabricationATI Inc.0.40+1,008%1.34+21.1%+87.5%−66.7%−35.1%−12.2%−70.0%−60.8%−26.5%——25.9%+21.4%
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Common questions

What was CSX's worst drawdown?

CSX's deepest decline since it began trading in 1986 was 69.2%, from May 2008 to March 2009. It took 22 months from the low to climb back to its old high.

What were CSX's best and worst years?

Over 29 full calendar years, CSX's best year was 2017, when it returned 55.5%. Its worst was 2015, with a return of -26.7%.

Is there a better investment than CSX?

Among CSX's popular alternatives, WAB was ahead of CSX in most short and long periods. Looking beyond its popular alternatives, CB (property & casualty insurance) and BRK-B (insurance) earned more than CSX with less volatility over the past 5 years. CB returned 15.7% a year at 20.4% volatility, against 8.3% a year at 23.3%.

Is CSX more volatile than the S&P 500?

Yes. CSX's volatility over the past 5 years was 23.3%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CSX's return lands within 23.3% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is CSX's Sharpe ratio?

CSX's Sharpe ratio over the past 5 years was 0.46, against 0.79 for the S&P 500, so CSX earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is CSX with the S&P 500?

Over the past 5 years, CSX's monthly returns had a correlation of 0.73 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against CSX instead: the lower it is, the more that option would diversify a CSX holding.

What are the best alternatives to CSX?

None of the nine popular alternatives we compared outperformed CSX in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about CSX's strength than about its alternatives.

Did CSX outperform the S&P 500?

CSX finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned +14.2%, against +17.7% for the index.

How did CSX do in stock market crashes?

CSX fell less than the S&P 500 (SPY) in two of the ten major crashes it has traded through, and further in eight. The clearest case was the 2008 financial crisis, when CSX fell 69.2% and the S&P 500 fell 55.2%.

What diversifies CSX?

These had a low correlation with CSX over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.46), GCOW (correlation 0.46) and SMH (correlation 0.49); among large stocks, CAH (correlation 0.38), CLS (correlation 0.34) and MCK (correlation 0.38). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to CSX

Other stocks and ETFs