FedEx Correlations

FDX Stock

USD 305.15 5.18 1.73%

The current 90-days correlation between FedEx and GXO Logistics is 0.23 (i.e., Modest 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

Modest diversification

The correlation between FedEx and DJI is 0.29 (i.e., Modest 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.

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 unemployment.

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

Moving against FedEx Stock

0.79	ZTO	ZTO Express	Pair Corr
0.49	GVH	Globavend Holdings	Pair Corr
0.46	FWRD	Forward Air	Pair Corr
0.58	ATXG	Addentax Group Corp	Pair Corr
0.36	CHRW	CH Robinson Worldwide Sell-off Trend	Pair Corr
0.35	SFWL	Shengfeng Development	Pair Corr
0.53	BW	Babcock Wilcox Enter	Pair Corr
0.52	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.43	DY	Dycom Industries	Pair Corr
0.39	DE	Deere Company Fiscal Year End 27th of November 2024	Pair Corr
0.36	FA	First Advantage Corp	Pair Corr
0.33	GD	General Dynamics Sell-off Trend	Pair Corr
0.32	EH	Ehang Holdings	Pair Corr

Related Correlations Analysis

	GXO	JBHT	EXPD	CHRW	HUBG	LSTR	FWRD
GXO		0.66	-0.53	0.66	0.28	0.18	0.62	GXO
JBHT	0.66		-0.43	0.38	0.69	0.34	0.14	JBHT
EXPD	-0.53	-0.43		-0.05	-0.14	0.2	-0.13	EXPD
CHRW	0.66	0.38	-0.05		0.3	0.39	0.61	CHRW
HUBG	0.28	0.69	-0.14	0.3		0.3	-0.06	HUBG
LSTR	0.18	0.34	0.2	0.39	0.3		0.22	LSTR
FWRD	0.62	0.14	-0.13	0.61	-0.06	0.22		FWRD
	GXO	JBHT	EXPD	CHRW	HUBG	LSTR	FWRD

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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

HUBG	+ 0.69	JBHT
JBHT	+ 0.66	GXO
CHRW	+ 0.66	GXO
FWRD	+ 0.62	GXO
FWRD	+ 0.61	CHRW
LSTR	+ 0.39	CHRW

High negative correlations

EXPD	- 0.53	GXO
EXPD	- 0.43	JBHT
HUBG	- 0.14	EXPD
FWRD	- 0.13	EXPD
FWRD	- 0.06	HUBG
CHRW	- 0.05	EXPD

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
GXO	1.56	0.19	0.15	0.27	1.27	(1.94)	2.56	(2.59)	17.49
JBHT	1.26	(0.05)	(0.03)	0.08	1.42	(1.48)	2.89	(2.36)	6.94
EXPD	0.86	(0.05)	0.00	(0.11)	0.00	0.00	1.89	(2.13)	4.65
CHRW	0.94	0.02	(0.01)	0.16	1.33	(1.02)	2.16	(1.28)	8.29
HUBG	1.39	0.09	0.10	0.18	1.27	(1.56)	3.32	(2.46)	11.93
LSTR	1.22	(0.18)	0.00	(0.04)	0.00	0.00	1.89	(2.45)	8.45
FWRD	2.50	0.10	0.04	0.21	2.83	(2.68)	4.39	(4.35)	12.56

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