SeriesMagCorrOverlapThrough
These move together about 68% of the time
Strong positive
Strong enough to use as a signal — read the stability and regime notes below before relying on it.
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In fiscal 2025, the firm's Federal Express segment—which houses the core package delivery operations—made up 86% of total revenue, with 10% coming from FedEx Freight, its asset-based less-than-truckload shipping segment. The remainder came from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016, boosting its presence across Europe. TNT was previously the fourth-largest global parcel delivery provider.
Market cap 92.6B · 880,000 employees
Vanguard FTSE Developed Markets ETF
VEA
What to Watch
Holds across regimes
Correlation is similar when markets rise (+31%) and fall (+39%) — reliable in both directions.
Regime-dependent
The correlation has flipped sign across time windows — not reliable as a standalone signal.
Time Series
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -6 to 6 days.
Selected shift
No shift
Correlation at this shift
+69%
No shift — both series at their actual dates.
1,255 overlapping points at this shift
Time series with Vanguard FTSE Developed Markets ETF at original dates
Indexed to 100 at start
Deep Dive
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Corr
+69%
Pearson correlation
95% CI
+66% → +71%
Likely range
R²
47.1%
Variance explained
Trend agreement
67.7%
Same-direction moves
Significance
p < 0.001
Statistical confidence
Data points
1,255
Deep
Pipeline
Pipeline Summary
1,255 paired data points survived the daily window.
Raw input
1,255
1,255
Normalized
1,255
1,255
Prepared
1,255
1,255
Aligned
1,255
1,255
Invalid removed
Explore
The strongest positive and inverse pairs we’ve saved for each side of this comparison — good jumping-off points if this result raised a question.
Do They Crash Together?
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+31%
104 periods · Return correlation when both series rose
Both Falling
+39%
84 periods · Return correlation when both series fell
Diverging
-56%
61 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
0
A: 0 / B: 0
Series A
FedEx Corporation
FDX
Market cap 92.6B · 880,000 employees
Stock · 1,255 raw → 1,255 prepared
Series B
Vanguard FTSE Developed Markets ETF
VEA
Stock · 1,255 raw → 1,255 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
48
Estimated crossover points between normalized spreads.
Slope
0.1060
Linear regression slope.
Intercept
23.6933
Linear regression intercept.
Saved 1 hour ago · ID: stock-fdx_stock-vea_5y
VEA
Vanguard FTSE Developed Markets ETF
Strongest positive