FDX vs SCHD: Correlation
Measured on weekly returns over the past three years, FedEx (FDX) and Schwab US Dividend Equity ETF (SCHD) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDX and SCHD?
On 3 years of weekly data the FDX/SCHD correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 232.1 %².
In FDX's tracked universe of 36 assets, SCHD sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months FDX outperformed by 51.0 percentage points (+80.6% for FDX against +29.6% for SCHD). The rolling one-year correlation moved between 0.37 and 0.83 over the past three years, a moderate range. Risk is not evenly split, since FDX carries 2.4 times the volatility of the other side.
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 SCHD: side by side
| FDX (FedEx) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +80.6% | +29.6% |
| 5-year return | +71.0% | +60.9% |
| Volatility (ann.) | 30.7% | 12.9% |
| Beta vs S&P 500 | 0.89 | 0.52 |
| Max drawdown (3Y) | -35.9% | -16.1% |
| Market cap | $78.4B | – |
| P/E (trailing) | 18.1 | – |
| Dividend yield | 1.66% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | Industrials | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | FDX | SCHD |
|---|---|---|
| 2022 | -31.6% | -3.3% |
| 2023 | +49.1% | +4.5% |
| 2024 | +13.5% | +11.7% |
| 2025 | +5.1% | +4.3% |
| 2026 | +43.5% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDX and SCHD good diversifiers for each other?
Only partially. A correlation of 0.59 means FDX and SCHD 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 SCHD?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.60 over the last year and 0.55 over 5 years.
Is SCHD a good diversifier for FDX?
Only partially. A correlation of 0.59 means FDX and SCHD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fdx-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDX correlations · SCHD correlations
