FedEx Correlations
| FDX Stock | USD 271.75 1.60 0.59% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FedEx moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FedEx moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between FedEx and NYA is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FedEx and NYA in the same portfolio, assuming nothing else is changed.
FedEx |
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 to buy it.
Moving together with FedEx Stock
| 0.79 | GVH | Globavend Holdings | PairCorr |
| 0.7 | ZTO | ZTO Express Financial Report 15th of May 2024 | PairCorr |
| 0.83 | AIRT | Air T Inc | PairCorr |
Moving against FedEx Stock
| 0.75 | ATXG | Addentax Group Corp | PairCorr |
| 0.69 | AIRTP | Air T Inc | PairCorr |
| 0.69 | CRGO | Freightos Limited | PairCorr |
| 0.67 | FWRD | Forward Air Earnings Call This Week | PairCorr |
| 0.66 | AP | Ampco Pittsburgh | PairCorr |
| 0.65 | RLGT | Radiant Logistics | PairCorr |
| 0.61 | JBHT | JB Hunt Transport Financial Report 16th of July 2024 | PairCorr |
| 0.58 | HUBG | Hub Group Earnings Call Tomorrow | PairCorr |
| 0.5 | GXO | GXO Logistics Financial Report 14th of May 2024 | PairCorr |
| 0.49 | EXPD | Expeditors International Financial Report 7th of May 2024 | PairCorr |
| 0.49 | LSTR | Landstar System Earnings Call Tomorrow | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| JBHT | 1.33 | (0.36) | 0.00 | (0.15) | 0.00 | 2.26 | 12.58 | |||
| AQUI | 1.32 | 0.62 | 0.00 | 0.99 | 0.00 | 0.00 | 25.00 | |||
| LBHIX | 0.18 | (0.03) | (0.25) | (0.04) | 0.22 | 0.48 | 1.21 | |||
| MSTSX | 0.45 | 0.05 | (0.04) | 8.45 | 0.61 | 0.98 | 3.20 | |||
| VIASP | 1.42 | 0.13 | 0.07 | 0.21 | 1.92 | 3.60 | 13.41 | |||
| RRTLX | 0.25 | 0.02 | (0.16) | 0.84 | 0.26 | 0.51 | 1.46 | |||
| OSHDF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 70082LAB3 | 1.00 | (0.15) | 0.00 | 0.59 | 0.00 | 1.52 | 17.58 |
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.Did you try this?
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FedEx Corporate Directors
FedEx corporate directors refer to members of a FedEx board of directors. The board of directors generally takes responsibility for the FedEx's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of FedEx's board members must vote for the resolution. The FedEx board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Marvin Ellison | Independent Director | Profile | |
| James Barksdale | Independent Director | Profile | |
| Kimberly Jabal | Independent Director | Profile | |
| Brad Martin | Independent Director | Profile |
Already Invested in FedEx?
The danger of trading FedEx is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of FedEx is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than FedEx. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile FedEx is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether FedEx offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of FedEx's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Fedex Stock. Outlined below are crucial reports that will aid in making a well-informed decision on 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 tightly coupled with the direction of predictive economic indicators such as signals in unemployment. For more information on how to buy FedEx Stock please use our How to Invest in FedEx guide.Note that the FedEx information on this page should be used as a complementary analysis to other FedEx's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Complementary Tools for FedEx Stock analysis
When running FedEx's price analysis, check to measure FedEx's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy FedEx is operating at the current time. Most of FedEx's value examination focuses on studying past and present price action to predict the probability of FedEx's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move FedEx's price. Additionally, you may evaluate how the addition of FedEx to your portfolios can decrease your overall portfolio volatility.
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Is FedEx's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of FedEx. If investors know FedEx will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about FedEx listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.13) | Dividend Share 5.04 | Earnings Share 17.32 | Revenue Per Share 350.758 | Quarterly Revenue Growth 0.139 |
The market value of FedEx is measured differently than its book value, which is the value of FedEx that is recorded on the company's balance sheet. Investors also form their own opinion of FedEx's value that differs from its market value or its book value, called intrinsic value, which is FedEx's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because FedEx's market value can be influenced by many factors that don't directly affect FedEx's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between FedEx's value and its price as these two are different measures arrived at by different means. Investors typically determine if FedEx is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, FedEx's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.