FDX vs TFC: Correlation
FedEx (FDX) and Truist Financial (TFC) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDX and TFC?
Over the past 3 years, FDX and TFC moved with a correlation of 0.57, which is moderate. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 486.8 %².
TFC is one of the assets that tracks FDX most closely: it ranks #3 out of the 36 assets we track against FDX. The last year tells two different stories: FDX led by 68.5 percentage points, +80.6% for FDX against +12.1% for TFC. This link changes with the market regime, having swung between 0.07 and 0.74 on a rolling one-year basis.
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 TFC: side by side
| FDX (FedEx) | TFC (Truist Financial) | |
|---|---|---|
| 1-year return | +80.6% | +12.1% |
| 5-year return | +71.0% | +12.7% |
| Volatility (ann.) | 30.7% | 28.0% |
| Beta vs S&P 500 | 0.89 | 1.07 |
| Max drawdown (3Y) | -35.9% | -26.9% |
| Market cap | $78.4B | $61.4B |
| P/E (trailing) | 18.1 | 11.6 |
| Dividend yield | 1.66% | 4.10% |
| Sector / category | Industrials | Financials |
Year-by-year returns
| Year | FDX | TFC |
|---|---|---|
| 2022 | -31.6% | -23.5% |
| 2023 | +49.1% | -8.6% |
| 2024 | +13.5% | +23.7% |
| 2025 | +5.1% | +19.0% |
| 2026 | +43.5% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDX and TFC good diversifiers for each other?
Only partially. A correlation of 0.57 means FDX and TFC 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 TFC?
As of 2026-08-27, the correlation of weekly returns between FDX and TFC is 0.57 over 3 years, 0.66 over 1 year and 0.42 over 5 years.
Is TFC a good diversifier for FDX?
Only partially. A correlation of 0.57 means FDX and TFC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fdx-vs-tfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fdx-vs-tfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDX correlations · TFC correlations
