XPO Logistics Correlations

XPO Stock  USD 107.58  0.49  0.46%   
The current 90-days correlation between XPO Logistics and Knight Transportation is -0.17 (i.e., Good 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

Good diversification

The correlation between XPO Logistics and DJI is -0.12 (i.e., Good 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

  0.92VLRS VolarisPairCorr
  0.87WERN Werner EnterprisesPairCorr
  0.9AAL American AirlinesPairCorr
  0.82ALK Alaska Air GroupPairCorr
  0.78CNI Canadian National RailwayPairCorr
  0.91CSX CSX CorporationPairCorr
  0.9DAL Delta Air Lines Earnings Call This WeekPairCorr
  0.89KNX Knight TransportationPairCorr
  0.65NSC Norfolk SouthernPairCorr
  0.71RXO RXO IncPairCorr
  0.92UAL United Airlines HoldingsPairCorr
  0.61ULH Universal LogisticsPairCorr
  0.94HTLD Heartland ExpressPairCorr
  0.74JBLU JetBlue Airways CorpPairCorr
  0.82MESA Mesa Air GroupPairCorr
  0.82MRTN Marten TransportPairCorr
  0.87ODFL Old Dominion FreightPairCorr
  0.75PAMT PAMT P Symbol ChangePairCorr
  0.85AIRT Air T IncPairCorr
  0.88ALGT Allegiant TravelPairCorr
  0.94SAIA Saia IncPairCorr
  0.91ARCB ArcBest CorpPairCorr
  0.86SKYW SkyWestPairCorr
  0.86SNDR Schneider NationalPairCorr
  0.85SNCY Sun Country Airlines Downward RallyPairCorr
  0.89TFII TFI InternationalPairCorr

Moving against XPO Stock

  0.48CPA Copa Holdings SAPairCorr
  0.46LTM LATAM Airlines GroupPairCorr
  0.52ATSG Air Transport ServicesPairCorr
  0.34RYAAY Ryanair Holdings PLCPairCorr

Related Correlations Analysis

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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   
WERNSNDR
MRTNWERN
SNDRKNX
WERNKNX
ARCBSNDR
SAIAHTLD
  
High negative correlations   
TFIIYELL
ODFLYELL
MRTNYELL
WERNYELL
YELLARCB
YELLSAIA

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
KNX  1.37 (0.23) 0.00 (0.25) 0.00 
 2.97 
 8.09 
SNDR  1.23 (0.31) 0.00 (0.35) 0.00 
 2.27 
 7.76 
HTLD  1.43 (0.26) 0.00 (2.07) 0.00 
 2.65 
 8.35 
SAIA  2.27 (0.31) 0.00 (0.21) 0.00 
 3.84 
 15.36 
ARCB  1.67 (0.37) 0.00 (0.35) 0.00 
 3.68 
 9.75 
YELL  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
WERN  1.27 (0.25) 0.00 (0.31) 0.00 
 2.35 
 8.47 
MRTN  1.24 (0.15) 0.00 (0.26) 0.00 
 2.82 
 7.62 
ODFL  1.57 (0.03) 0.00 (0.08) 0.00 
 2.54 
 13.98 
TFII  1.82 (0.75) 0.00 (0.45) 0.00 
 2.14 
 23.82