FedEx Corp Correlations

FDX Stock

EUR 221.45 1.05 0.47%

The current 90-days correlation between FedEx Corp and Electronic Arts is 0.03 (i.e., Significant diversification). The correlation of FedEx Corp 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.

FedEx Corp Correlation With Market

Weak diversification

The correlation between FedEx Corp and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FedEx Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to FedEx Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FedEx Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back FedEx Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling FedEx Corp to buy it.

Moving together with FedEx Stock

0.87	MSF	Microsoft	Pair Corr
0.86	MSF	Microsoft	Pair Corr
0.86	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.73	PQ9	PT Bank Mandiri	Pair Corr
0.77	PQ9	BANK MANDIRI	Pair Corr
0.79	PQ9	BANK MANDIRI	Pair Corr
0.75	PQ9	BANK MANDIRI	Pair Corr
0.65	BYRA	BANK RAKYAT IND	Pair Corr
0.86	BZG2	BANK CENTRAL ASIA	Pair Corr
0.8	BZG2	BANK CENTRAL ASIA	Pair Corr
0.81	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against FedEx Stock

0.8	DBPE	Xtrackers LevDAX	Pair Corr
0.71	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	UUEC	751	DDN	CFC	SCE	RE3	ERT	HAA1
UUEC		-0.24	-0.67	-0.42	0.53	0.71	0.72	0.57	UUEC
751	-0.24		0.37	0.09	0.16	-0.25	-0.19	-0.33	751
DDN	-0.67	0.37		0.09	-0.44	-0.57	-0.78	-0.42	DDN
CFC	-0.42	0.09	0.09		0.07	-0.6	-0.18	-0.37	CFC
SCE	0.53	0.16	-0.44	0.07		0.1	0.44	0.1	SCE
RE3	0.71	-0.25	-0.57	-0.6	0.1		0.64	0.74	RE3
ERT	0.72	-0.19	-0.78	-0.18	0.44	0.64		0.45	ERT
HAA1	0.57	-0.33	-0.42	-0.37	0.1	0.74	0.45		HAA1
	UUEC	751	DDN	CFC	SCE	RE3	ERT	HAA1

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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

HAA1	+ 0.74	RE3
ERT	+ 0.72	UUEC
RE3	+ 0.71	UUEC
ERT	+ 0.64	RE3
HAA1	+ 0.57	UUEC
SCE	+ 0.53	UUEC

High negative correlations

ERT	- 0.78	DDN
DDN	- 0.67	UUEC
RE3	- 0.6	CFC
RE3	- 0.57	DDN
SCE	- 0.44	DDN
HAA1	- 0.42	DDN

Risk-Adjusted Indicators

There is a big difference between FedEx Stock performing well and FedEx Corp 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 Corp'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
UUEC	1.12	(0.26)	0.00	0.94	0.00	0.00	2.52	(3.39)	7.88
751	1.31	(0.10)	0.00	1.04	0.00	0.00	2.90	(2.70)	7.60
DDN	1.22	0.17	0.21	0.67	1.10	(1.53)	2.45	(2.32)	17.15
CFC	2.54	0.15	0.08	(0.67)	2.91	(3.84)	5.62	(5.43)	35.80
SCE	2.37	0.09	0.05	0.12	3.00	(3.78)	7.14	(6.77)	22.71
RE3	1.53	(0.23)	0.00	(75.36)	0.00	0.00	2.63	(3.30)	15.15
ERT	1.50	(0.34)	0.00	1.80	0.00	0.00	3.97	(2.50)	20.59
HAA1	2.87	(0.49)	0.00	(0.47)	0.00	0.00	5.36	(6.25)	34.32

Be your own money manager

Our tools can tell you how much better you can do entering a position in FedEx Corp without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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