FEDEX Correlations

31428XAW6

93.14 2.07 2.17%

The current 90-days correlation between FEDEX P 51 and NL Industries is 0.13 (i.e., Average 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.

FEDEX Correlation With Market

Significant diversification

The correlation between FEDEX P 51 and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FEDEX P 51 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to FEDEX 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 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 - 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 P 51 to buy it.

Moving against FEDEX Bond

0.48	CSCO	Cisco Systems	Pair Corr
0.47	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.45	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.44	HD	Home Depot	Pair Corr
0.41	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.41	WMT	Walmart Aggressive Push	Pair Corr
0.39	T	ATT Inc Aggressive Push	Pair Corr
0.33	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.33	HPQ	HP Inc	Pair Corr
0.32	DIS	Walt Disney Aggressive Push	Pair Corr
0.32	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.31	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Related Correlations Analysis

	NL	GETY	HDSN	CDNS	ECVT	PALT	HWKN	SXT
NL		-0.02	-0.55	0.57	0.47	-0.71	0.42	0.62	NL
GETY	-0.02		0.56	-0.53	-0.53	0.2	-0.48	0.1	GETY
HDSN	-0.55	0.56		-0.85	-0.92	0.7	-0.31	-0.33	HDSN
CDNS	0.57	-0.53	-0.85		0.86	-0.58	0.39	0.47	CDNS
ECVT	0.47	-0.53	-0.92	0.86		-0.6	0.32	0.42	ECVT
PALT	-0.71	0.2	0.7	-0.58	-0.6		-0.05	-0.23	PALT
HWKN	0.42	-0.48	-0.31	0.39	0.32	-0.05		0.48	HWKN
SXT	0.62	0.1	-0.33	0.47	0.42	-0.23	0.48		SXT
	NL	GETY	HDSN	CDNS	ECVT	PALT	HWKN	SXT

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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

ECVT	+ 0.86	CDNS
PALT	+ 0.7	HDSN
SXT	+ 0.62	NL
CDNS	+ 0.57	NL
HDSN	+ 0.56	GETY
SXT	+ 0.48	HWKN

High negative correlations

ECVT	- 0.92	HDSN
CDNS	- 0.85	HDSN
PALT	- 0.71	NL
PALT	- 0.6	ECVT
PALT	- 0.58	CDNS
HDSN	- 0.55	NL

Risk-Adjusted Indicators

There is a big difference between FEDEX Bond performing well and FEDEX Corporate Bond 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
NL	2.04	0.19	0.09	0.20	2.96	(2.03)	4.39	(5.58)	16.89
GETY	2.17	(0.43)	0.00	(0.33)	0.00	0.00	3.77	(4.72)	26.04
HDSN	2.09	(0.41)	0.00	5.69	0.00	0.00	4.75	(3.98)	29.08
CDNS	1.73	0.14	0.07	0.22	1.96	(1.88)	3.47	(4.40)	17.32
ECVT	1.96	0.10	0.07	0.17	1.71	(2.63)	6.04	(3.24)	17.08
PALT	3.88	(0.76)	0.00	(0.52)	0.00	0.00	8.59	(7.79)	27.19
HWKN	1.70	(0.07)	0.01	0.07	2.60	(1.59)	3.32	(3.65)	13.44
SXT	1.07	(0.14)	(0.06)	0.01	1.34	(1.06)	2.14	(2.19)	8.84

Be your own money manager

Our tools can tell you how much better you can do entering a position in FEDEX 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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