Forward Air Correlations

FWRD Stock

USD 30.63 0.33 1.09%

The current 90-days correlation between Forward Air and Landstar System is 0.18 (i.e., Average diversification). The correlation of Forward Air 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.

Forward Air Correlation With Market

Significant diversification

The correlation between Forward Air and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Forward Air 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 Forward Air. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade Forward Stock refer to our How to Trade Forward Stock guide.

Moving together with Forward Stock

0.68	EXPD	Expeditors International Earnings Call This Week	Pair Corr
0.69	FDX	FedEx	Pair Corr
0.79	GXO	GXO Logistics Buyout Trend	Pair Corr
0.64	UPS	United Parcel Service	Pair Corr
0.73	HUBG	Hub Group	Pair Corr
0.76	JBHT	JB Hunt Transport	Pair Corr
0.67	LSTR	Landstar System	Pair Corr
0.63	RLGT	Radiant Logistics	Pair Corr
0.62	BTOC	Armlogi Holding Corp	Pair Corr
0.64	R	Ryder System Earnings Call This Week	Pair Corr

Moving against Forward Stock

0.56	JYD	Jayud Global Logistics	Pair Corr
0.56	CRGOW	Freightos Limited	Pair Corr
0.52	B	Barnes Group	Pair Corr
0.46	CRGO	Freightos Limited	Pair Corr
0.4	ATXG	Addentax Group Corp	Pair Corr
0.34	AIRT	Air T Inc	Pair Corr
0.75	BA	Boeing	Pair Corr
0.6	KC	Kingsoft Cloud Holdings Upward Rally	Pair Corr
0.38	AZ	A2Z Smart Technologies	Pair Corr
0.32	EH	Ehang Holdings	Pair Corr

Related Correlations Analysis

	LSTR	JBHT	EXPD	CHRW	HUBG
LSTR		0.85	0.81	0.84	0.89	LSTR
JBHT	0.85		0.75	0.58	0.84	JBHT
EXPD	0.81	0.75		0.66	0.94	EXPD
CHRW	0.84	0.58	0.66		0.71	CHRW
HUBG	0.89	0.84	0.94	0.71		HUBG
	LSTR	JBHT	EXPD	CHRW	HUBG

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Risk-Adjusted Indicators

There is a big difference between Forward Stock performing well and Forward Air 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 Forward Air'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
LSTR	1.07	(0.23)	(0.35)	2.06	(2.29)	6.83
JBHT	1.22	(0.18)	(0.39)	2.71	(2.48)	10.65
EXPD	0.84	(0.08)	(0.12)	1.76	(1.58)	4.85
CHRW	1.02	(0.12)	(0.37)	2.38	(2.20)	11.46
HUBG	1.33	(0.17)	(0.21)	2.20	(3.55)	8.74

Forward Air Corporate Management

James Faught	Chief Officer	Profile
Rebecca Garbrick	CFO Treasurer	Profile
Nancee Ronning	Chief Officer	Profile
Jamie Pierson	Chief Officer	Profile
Joseph Tomasello	Chief Officer	Profile
Kyle Mitchin	Chief Officer	Profile

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