FedEx Correlations

Stocks . USA . 
Stock . FedEx
FDX Stock  USD 273.30  2.85  1.05%   
The current 90-days correlation between FedEx and Vulcan Materials is 0.2 (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

Very weak diversification

The correlation between FedEx and DJI is 0.51 (i.e., Very weak 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 commodities.
For more information on how to buy FedEx Stock please use our How to Invest in FedEx guide.

Moving together with FedEx Stock

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  0.65KMTS Kestra Medical Techn Buyout TrendPairCorr
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Moving against FedEx Stock

  0.86JYD Jayud Global LogisticsPairCorr
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  0.81603713 Milkyway Chemical SupplyPairCorr
  0.8TOTAL Total Transport SystemsPairCorr
  0.7TCI TransportPairCorr
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  0.58HKPD Hong Kong PharmaPairCorr
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  0.51GVH Globavend HoldingsPairCorr
  0.39TTNM Titanium TransportationPairCorr
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  0.31GXO GXO LogisticsPairCorr

Related Correlations Analysis


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

BJRI
+ 0.8
SCIA
RYAM
+ 0.72
VMC
YECO
+ 0.7
SCIA
YECO
+ 0.47
BJRI
WEST
+ 0.31
VMC
GT
+ 0.29
BJRI
  

High negative correlations

WEST
- 0.85
SCIA
WEST
- 0.67
BJRI
WEST
- 0.65
YECO
RYAM
- 0.61
BJRI
BJRI
- 0.54
VMC
SCIA
- 0.52
VMC

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.

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