Pitney Bowes Correlations

PBI Stock

USD 9.49 0.18 1.93%

The current 90-days correlation between Pitney Bowes and Hub Group is 0.26 (i.e., Modest diversification). The correlation of Pitney Bowes 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.

Pitney Bowes Correlation With Market

Good diversification

The correlation between Pitney Bowes and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pitney Bowes and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pitney Bowes. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For more detail on how to invest in Pitney Stock please use our How to Invest in Pitney Bowes guide.

Moving together with Pitney Stock

0.72	EXPD	Expeditors International	Pair Corr
0.68	AIRTP	Air T Inc	Pair Corr
0.77	CRGOW	Freightos Limited	Pair Corr
0.69	ATXG	Addentax Group Corp	Pair Corr
0.88	PBI-PB	Pitney Bowes NT	Pair Corr

Moving against Pitney Stock

0.84	NCEW	New Century Logistics	Pair Corr
0.69	LSTR	Landstar System	Pair Corr
0.64	GXO	GXO Logistics	Pair Corr
0.62	LSH	Lakeside Holding	Pair Corr
0.6	FDX	FedEx Earnings Call Today	Pair Corr
0.53	HUBG	Hub Group	Pair Corr
0.52	FWRD	Forward Air	Pair Corr
0.48	JBHT	JB Hunt Transport Sell-off Trend	Pair Corr
0.46	AIRT	Air T Inc	Pair Corr
0.43	UPS	United Parcel Service	Pair Corr
0.78	CYRX	Cryoport Downward Rally	Pair Corr
0.78	BW	Babcock Wilcox Enter	Pair Corr
0.75	SGLY	Singularity Future	Pair Corr
0.67	BTOC	Armlogi Holding Corp	Pair Corr
0.62	SFWL	Shengfeng Development	Pair Corr
0.6	J	Jacobs Solutions	Pair Corr
0.56	BV	BrightView Holdings	Pair Corr
0.52	CHRW	CH Robinson Worldwide	Pair Corr
0.4	AP	Ampco Pittsburgh Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EXPD	LSTR	JBHT	HUBG	FWRD	CHRW
EXPD		-0.55	-0.48	-0.64	-0.73	-0.23	EXPD
LSTR	-0.55		0.51	0.9	0.78	0.77	LSTR
JBHT	-0.48	0.51		0.54	0.59	0.38	JBHT
HUBG	-0.64	0.9	0.54		0.94	0.59	HUBG
FWRD	-0.73	0.78	0.59	0.94		0.47	FWRD
CHRW	-0.23	0.77	0.38	0.59	0.47		CHRW
	EXPD	LSTR	JBHT	HUBG	FWRD	CHRW

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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

FWRD	+ 0.94	HUBG
HUBG	+ 0.9	LSTR
FWRD	+ 0.78	LSTR
CHRW	+ 0.77	LSTR
FWRD	+ 0.59	JBHT
CHRW	+ 0.59	HUBG

High negative correlations

FWRD	- 0.73	EXPD
HUBG	- 0.64	EXPD
LSTR	- 0.55	EXPD
JBHT	- 0.48	EXPD
CHRW	- 0.23	EXPD

Risk-Adjusted Indicators

There is a big difference between Pitney Stock performing well and Pitney Bowes 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 Pitney Bowes' 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
EXPD	1.06	0.08	0.11	0.50	1.29	(1.26)	2.17	(2.47)	8.61
LSTR	1.11	(0.21)	0.00	(0.63)	0.00	0.00	1.94	(2.17)	8.73
JBHT	1.29	(0.26)	0.00	(0.48)	0.00	0.00	2.70	(3.25)	10.22
HUBG	1.32	(0.23)	0.00	(0.97)	0.00	0.00	2.17	(3.03)	7.02
FWRD	2.71	(0.49)	0.00	0.75	0.00	0.00	6.61	(6.12)	21.86
CHRW	1.17	(0.06)	0.00	(1.01)	0.00	0.00	2.40	(2.02)	8.72

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