FDX vs INLX: Correlation
Measured on weekly returns over the past three years, FedEx (FDX) and Intellinetics, Inc. (INLX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDX and INLX?
Across a 3-year window, the weekly returns of FDX and INLX correlate at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. Stretching to 5 years gives -0.03, with an annualized covariance of -384.5 %².
INLX is close to the least connected end of FDX's tracked universe, ranking #32 of 36. The last year tells two different stories: FDX led by 127.0 percentage points, +80.6% for FDX against -46.4% for INLX. Note the risk asymmetry: INLX runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 INLX: side by side
| FDX (FedEx) | INLX (Intellinetics, Inc.) | |
|---|---|---|
| 1-year return | +80.6% | -46.4% |
| 5-year return | +71.0% | +7.4% |
| Volatility (ann.) | 30.7% | 60.0% |
| Beta vs S&P 500 | 0.89 | -0.07 |
| Max drawdown (3Y) | -35.9% | -65.9% |
| Market cap | $78.4B | – |
| P/E (trailing) | 18.1 | – |
| Dividend yield | 1.66% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FDX | INLX |
|---|---|---|
| 2022 | -31.6% | -43.5% |
| 2023 | +49.1% | +18.5% |
| 2024 | +13.5% | +171.7% |
| 2025 | +5.1% | -42.0% |
| 2026 | +43.5% | -34.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDX and INLX good diversifiers for each other?
Yes. With a correlation of -0.21, FDX and INLX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FDX and INLX?
The FDX/INLX correlation stands at -0.21 on a 3-year window (1 year: -0.26, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is INLX a good diversifier for FDX?
Yes. With a correlation of -0.21, FDX and INLX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-inlx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fdx-vs-inlx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDX correlations · INLX correlations
