Bounded potentials are good models to represent the effective two-body interaction in some colloidal systems, such as dilute solutions of polymer chains in good solvents. The simplest bounded potential is that of penetrable spheres, which takes a positive finite value if the two spheres are overlapped, being 0 otherwise. Even in the one-dimensional case, the penetrable-rod model is far from trivial, since interactions are not restricted to nearest neighbors and so its exact solution is not

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... . In this paper we first derive the exact correlation functions of penetrable-rod fluids to second order in density at any temperature, as well as in the high-temperature and zero-temperature limits at any density. Next, two simple analytic theories are constructed: a high-temperature approximation based on the exact asymptotic behavior in the limit T→∞ and a low-temperature approximation inspired by the exact result in the opposite limit T→ 0. Finally, we perform Monte Carlo simulations for a wide range of temperatures and densities to assess the validity of both theories. It is found that they complement each other quite well, exhibiting a good agreement with the simulation data within their respective domains of applicability and becoming practically equivalent on the borderline of those domains. A perspective on the extension of both approaches to the more realistic three-dimensional case is provided.