FedEx Correlations

FDX Stock

USD 382.59 3.97 1.03%

The current 90-days correlation between FedEx and ZTO Express is 0.09 (i.e., Significant diversification). The correlation of FedEx is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

FedEx Correlation With Market

Poor diversification

The correlation between FedEx and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FedEx and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with FedEx Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FedEx. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For more information on how to buy FedEx Stock please use our How to Invest in FedEx guide.

Moving together with FedEx Stock

0.88	DHL	Deutsche Post AG Earnings Call This Week	Pair Corr
0.84	3GT	RADIANT LOGISTICS	Pair Corr
0.94	HSP	Hargreaves Services Plc	Pair Corr
0.92	ZTOB	ZTO EXPRESS	Pair Corr
0.92	ZTOA	ZTO Express	Pair Corr
0.86	DPWA	DEUTSCHE POST SPONSADR Earnings Call This Week	Pair Corr
0.92	GXO	GXO Logistics	Pair Corr
0.65	FWRD	Forward Air	Pair Corr
0.96	UPS	United Parcel Service	Pair Corr
0.95	XPO	XPO Logistics	Pair Corr
0.95	UPAB	United Parcel Service	Pair Corr
0.94	ZTO	ZTO Express	Pair Corr
0.83	TTNM	Titanium Transportation	Pair Corr
0.89	JB1	JB Hunt Transport	Pair Corr
0.66	KNIU	Kuehne Nagel Interna	Pair Corr
0.96	O3P	Österreichische Post	Pair Corr
0.84	TGHN	Logwin AG	Pair Corr
0.68	1CM	NIKKON HOLDINGS TD	Pair Corr
0.92	5CI	Logista	Pair Corr
0.82	PNL	PostNL NV	Pair Corr
0.99	FDX	FedEx	Pair Corr
0.85	13B	bpost NV	Pair Corr
0.75	CH1A	CH Robinson Worldwide	Pair Corr
0.9	93N	GXO LOGISTICS INC	Pair Corr
0.87	DHL	Deutsche Post AG Earnings Call This Week	Pair Corr

Moving against FedEx Stock

0.79	GVH	Globavend Holdings	Pair Corr
0.72	JYD	Jayud Global Logistics	Pair Corr
0.53	S8G1	SUPER GROUP LTD	Pair Corr
0.33	FLX	BingEx	Pair Corr
0.54	KYL	KERRY LOGNETWORK	Pair Corr
0.47	HKPD	Hong Kong Pharma	Pair Corr
0.88	WJL	Webjet Group	Pair Corr
0.87	1YM	MARUWA UNYU KIKAN	Pair Corr
0.66	822	JD LOGISTICS DL Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EXPD	JBHT	XPO	ACM	ZTO	FTAI	SNA	PNR	RBA	NVT
EXPD		0.55	0.17	-0.13	0.22	0.52	0.41	-0.09	0.91	0.3	EXPD
JBHT	0.55		0.84	-0.61	0.89	0.8	0.92	-0.48	0.61	0.69	JBHT
XPO	0.17	0.84		-0.39	0.92	0.69	0.85	-0.62	0.27	0.75	XPO
ACM	-0.13	-0.61	-0.39		-0.59	-0.5	-0.63	0.09	-0.23	-0.32	ACM
ZTO	0.22	0.89	0.92	-0.59		0.79	0.92	-0.44	0.33	0.74	ZTO
FTAI	0.52	0.8	0.69	-0.5	0.79		0.91	-0.28	0.65	0.83	FTAI
SNA	0.41	0.92	0.85	-0.63	0.92	0.91		-0.37	0.53	0.82	SNA
PNR	-0.09	-0.48	-0.62	0.09	-0.44	-0.28	-0.37		-0.12	-0.37	PNR
RBA	0.91	0.61	0.27	-0.23	0.33	0.65	0.53	-0.12		0.4	RBA
NVT	0.3	0.69	0.75	-0.32	0.74	0.83	0.82	-0.37	0.4		NVT
	EXPD	JBHT	XPO	ACM	ZTO	FTAI	SNA	PNR	RBA	NVT

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SNA	+ 0.92	JBHT
ZTO	+ 0.92	XPO
SNA	+ 0.92	ZTO
RBA	+ 0.91	EXPD
SNA	+ 0.91	FTAI
ZTO	+ 0.89	JBHT

High negative correlations

SNA	- 0.63	ACM
PNR	- 0.62	XPO
ACM	- 0.61	JBHT
ZTO	- 0.59	ACM
FTAI	- 0.5	ACM
PNR	- 0.48	JBHT

Risk-Adjusted Indicators

There is a big difference between FedEx Stock performing well and FedEx 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 FedEx'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EXPD	1.39	(0.09)	(0.01)	0.04	2.91	(1.37)	2.46	(2.26)	16.72
JBHT	1.29	0.35	0.26	0.36	1.08	(1.58)	4.20	(1.64)	9.79
XPO	2.27	0.48	0.24	0.29	2.19	(2.64)	5.48	(4.14)	16.05
ACM	1.51	(0.40)	0.00	(0.17)	0.00	0.00	2.61	(2.88)	15.25
ZTO	1.12	0.40	0.27	1.04	0.81	(1.32)	2.83	(1.79)	7.33
FTAI	2.29	0.84	0.34	0.79	1.77	(2.66)	6.86	(3.46)	22.10
SNA	0.82	0.19	0.16	0.38	0.71	(0.94)	2.16	(1.32)	5.64
PNR	1.30	(0.14)	0.00	(0.01)	0.00	0.00	2.77	(2.66)	13.49
RBA	1.29	(0.11)	(0.02)	0.03	2.63	(1.17)	2.37	(3.52)	14.90
NVT	1.77	0.13	0.05	0.21	2.38	(1.87)	3.47	(3.53)	10.78

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