FDX vs HBAN: Correlation
FedEx (FDX) and Huntington Bancshares (HBAN) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDX and HBAN?
Over the past 3 years, FDX and HBAN moved with a correlation of 0.53, which is moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 484.7 %².
Among the 36 assets we track against FDX, HBAN ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FDX ahead by 82.3 points (+80.6% versus -1.7%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.08 to 0.64.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FDX vs HBAN: side by side
| FDX (FedEx) | HBAN (Huntington Bancshares) | |
|---|---|---|
| 1-year return | +80.6% | -1.7% |
| 5-year return | +71.0% | +36.8% |
| Volatility (ann.) | 30.7% | 29.8% |
| Beta vs S&P 500 | 0.89 | 1.07 |
| Max drawdown (3Y) | -35.9% | -30.0% |
| Market cap | $78.4B | $34.1B |
| P/E (trailing) | 18.1 | 13.1 |
| Dividend yield | 1.66% | 3.64% |
| Sector / category | Industrials | Financials |
Year-by-year returns
| Year | FDX | HBAN |
|---|---|---|
| 2022 | -31.6% | -4.4% |
| 2023 | +49.1% | -4.7% |
| 2024 | +13.5% | +33.7% |
| 2025 | +5.1% | +10.8% |
| 2026 | +43.5% | -0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDX and HBAN good diversifiers for each other?
Only partially. A correlation of 0.53 means FDX and HBAN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FDX and HBAN?
As of 2026-08-27, the correlation of weekly returns between FDX and HBAN is 0.53 over 3 years, 0.60 over 1 year and 0.39 over 5 years.
Is HBAN a good diversifier for FDX?
Only partially. A correlation of 0.53 means FDX and HBAN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fdx-vs-hban.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fdx-vs-hban/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDX correlations · HBAN correlations
