FDX vs USB: Correlation
How closely do FedEx (FDX) and U.S. Bancorp (USB) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDX and USB?
On 3 years of weekly data the FDX/USB correlation comes out at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.41, and annualized covariance runs at 460.6 %².
By 3-year correlation, USB places #8 of the 36 assets tracked against FDX. Correlation aside, the last 12 months split them widely, with FDX ahead by 47.5 points (+80.6% versus +33.1%). The rolling one-year correlation moved between 0.24 and 0.71 over the past three years, a moderate range.
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 USB: side by side
| FDX (FedEx) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | +80.6% | +33.1% |
| 5-year return | +71.0% | +36.0% |
| Volatility (ann.) | 30.7% | 27.3% |
| Beta vs S&P 500 | 0.89 | 1.09 |
| Max drawdown (3Y) | -35.9% | -30.6% |
| Market cap | $78.4B | $97.2B |
| P/E (trailing) | 18.1 | 12.5 |
| Dividend yield | 1.66% | 3.31% |
| Sector / category | Industrials | Financials |
Year-by-year returns
| Year | FDX | USB |
|---|---|---|
| 2022 | -31.6% | -19.1% |
| 2023 | +49.1% | +4.8% |
| 2024 | +13.5% | +15.6% |
| 2025 | +5.1% | +16.5% |
| 2026 | +43.5% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDX and USB good diversifiers for each other?
Only partially. A correlation of 0.55 means FDX and USB 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 USB?
As of 2026-08-27, the correlation of weekly returns between FDX and USB is 0.55 over 3 years, 0.56 over 1 year and 0.41 over 5 years.
Is USB a good diversifier for FDX?
Only partially. A correlation of 0.55 means FDX and USB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 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-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fdx-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FDX correlations · USB correlations
