FedEx Correlations

FDX Stock

USD 266.98 2.45 0.91%

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 banks.

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

Moving together with FedEx Stock

0.64	BKRKF	PT Bank Rakyat	Pair Corr
0.72	SSNLF	Samsung Electronics	Pair Corr
0.68	TLK	Telkom Indonesia Tbk	Pair Corr
0.67	EC	Ecopetrol SA ADR	Pair Corr
0.77	PTAIY	Astra International Tbk	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr
0.67	IBM	International Business	Pair Corr
0.74	KO	Coca Cola Aggressive Push	Pair Corr
0.74	MMM	3M Company	Pair Corr
0.62	AXP	American Express	Pair Corr
0.71	MRK	Merck Company Aggressive Push	Pair Corr

Moving against FedEx Stock

0.77	HD	Home Depot	Pair Corr
0.74	BA	Boeing	Pair Corr
0.67	T	ATT Inc	Pair Corr
0.44	VZ	Verizon Communications	Pair Corr
0.34	PPERF	Bank Mandiri Persero	Pair Corr
0.32	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	DLEXY	CYBR	SOSO	NADA	WHWRF	DTTLY	CGNT	IOBCF
DLEXY		0.0	0.0	-1.0	1.0	0.0	0.0	0.0	DLEXY
CYBR	0.0		0.0	0.0	0.0	0.25	-0.21	-0.16	CYBR
SOSO	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SOSO
NADA	-1.0	0.0	0.0		-1.0	0.0	0.0	0.0	NADA
WHWRF	1.0	0.0	0.0	-1.0		0.0	0.0	0.0	WHWRF
DTTLY	0.0	0.25	0.0	0.0	0.0		-0.39	-0.65	DTTLY
CGNT	0.0	-0.21	0.0	0.0	0.0	-0.39		0.31	CGNT
IOBCF	0.0	-0.16	0.0	0.0	0.0	-0.65	0.31		IOBCF
	DLEXY	CYBR	SOSO	NADA	WHWRF	DTTLY	CGNT	IOBCF

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

WHWRF	+ 1.0	DLEXY
IOBCF	+ 0.31	CGNT
DTTLY	+ 0.25	CYBR
CYBR	+ 0.0	DLEXY
SOSO	+ 0.0	DLEXY
DTTLY	+ 0.0	DLEXY

High negative correlations

WHWRF	- 1.0	NADA
NADA	- 1.0	DLEXY
IOBCF	- 0.65	DTTLY
CGNT	- 0.39	DTTLY
CGNT	- 0.21	CYBR
IOBCF	- 0.16	CYBR

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
DLEXY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CYBR	1.13	(0.01)	(0.01)	0.01	1.78	(1.08)	2.07	(2.52)	9.41
SOSO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NADA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WHWRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DTTLY	1.26	0.63	0.00	0.78	0.00	0.00	0.00	0.00	19.21
CGNT	1.75	(0.14)	0.00	(0.11)	0.00	0.00	3.68	(3.46)	17.10
IOBCF	0.92	(0.01)	(0.01)	(0.03)	1.60	(5.04)	4.75	(2.78)	12.62

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