XPO Logistics Correlations

XPO Stock

USD 107.96 3.56 3.19%

The current 90-days correlation between XPO Logistics and Knight Transportation is 0.03 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as XPO Logistics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if XPO Logistics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

XPO Logistics Correlation With Market

Average diversification

The correlation between XPO Logistics and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XPO Logistics and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in XPO Logistics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

To learn how to invest in XPO Stock, please use our How to Invest in XPO Logistics guide.

Moving together with XPO Stock

0.68	KNX	Knight Transportation	Pair Corr
0.72	PAMT	PAMT P Symbol Change	Pair Corr
0.62	HTLD	Heartland Express	Pair Corr
0.9	ARCB	ArcBest Corp	Pair Corr
0.62	J	Jacobs Solutions	Pair Corr
0.72	BA	Boeing Buyout Trend	Pair Corr
0.82	DY	Dycom Industries	Pair Corr
0.69	FA	First Advantage Corp	Pair Corr

Moving against XPO Stock

0.64	BEST	BEST Inc	Pair Corr
0.34	MBAV	M3 Brigade Acquisition	Pair Corr
0.58	BZ	Kanzhun Ltd ADR	Pair Corr
0.48	MSSAR	Metal Sky Star	Pair Corr

Related Correlations Analysis

	KNX	SNDR	HTLD	SAIA	ARCB	YELL	WERN	MRTN	ODFL	TFII
KNX		0.91	0.92	0.9	0.68	0.0	0.89	0.79	0.7	0.86	KNX
SNDR	0.91		0.93	0.92	0.57	0.0	0.97	0.92	0.62	0.94	SNDR
HTLD	0.92	0.93		0.97	0.56	0.0	0.93	0.88	0.8	0.92	HTLD
SAIA	0.9	0.92	0.97		0.53	0.0	0.92	0.88	0.83	0.94	SAIA
ARCB	0.68	0.57	0.56	0.53		0.0	0.49	0.36	0.32	0.58	ARCB
YELL	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	YELL
WERN	0.89	0.97	0.93	0.92	0.49	0.0		0.97	0.67	0.93	WERN
MRTN	0.79	0.92	0.88	0.88	0.36	0.0	0.97		0.63	0.89	MRTN
ODFL	0.7	0.62	0.8	0.83	0.32	0.0	0.67	0.63		0.66	ODFL
TFII	0.86	0.94	0.92	0.94	0.58	0.0	0.93	0.89	0.66		TFII
	KNX	SNDR	HTLD	SAIA	ARCB	YELL	WERN	MRTN	ODFL	TFII

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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

WERN	+ 0.97	SNDR
SAIA	+ 0.97	HTLD
MRTN	+ 0.97	WERN
TFII	+ 0.94	SNDR
TFII	+ 0.94	SAIA
HTLD	+ 0.93	SNDR

High negative correlations

TFII	- 0.0	YELL
ODFL	- 0.0	YELL
MRTN	- 0.0	YELL
WERN	- 0.0	YELL
YELL	- 0.0	ARCB
YELL	- 0.0	SAIA

Risk-Adjusted Indicators

There is a big difference between XPO Stock performing well and XPO Logistics 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 XPO Logistics' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
KNX	1.39	(0.25)	(0.31)	2.97	(2.70)	8.09
SNDR	1.23	(0.38)	(0.48)	1.84	(3.06)	7.76
HTLD	1.43	(0.30)	(0.48)	2.61	(3.03)	8.33
SAIA	2.27	(0.46)	(0.39)	3.58	(4.72)	15.36
ARCB	1.69	(0.44)	5.34	3.39	(4.43)	9.75
YELL	0.00	0.00	0.00	0.00	0.00	0.00
WERN	1.33	(0.40)	(0.57)	2.35	(2.98)	8.47
MRTN	1.24	(0.30)	(0.59)	2.82	(2.68)	7.62
ODFL	1.55	(0.25)	(0.31)	2.33	(3.62)	13.98
TFII	1.75	(0.77)	(0.60)	2.03	(4.90)	23.82

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