Which stocks are most correlated with FWRD?

Based on one year of daily returns, the stocks most correlated with Forward Air Corp (FWRD) are MTD (0.48), AORT (0.47) and FIGS (0.42). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with FWRD?

Over the past year, the stocks most inversely correlated with Forward Air Corp (FWRD) are INOD (-0.32), SMDD (-0.31) and MZZ (-0.30). A negative correlation means the two stocks have tended to move in opposite directions.

Forward Air Corp (FWRD) — Stock Correlations & Overview

Over the past year, FWRD has moved most closely with MTD, AORT, FIGS. Explore the stocks most correlated and inversely correlated with FWRD below, along with its price, financials, and company profile.

Stocks correlated with FWRD

Correlation of daily returns. Higher positive values move with FWRD; negative values move opposite it. Informational only, not investment advice.

Most correlated with FWRD

Symbol	Company	Correlation
MTD	Mettler-Toledo InternationalLABORATORY ANALYTICAL INSTRUMENTS	0.48
AORT	Artivion, Inc.SURGICAL & MEDICAL INSTRUMENTS & APPARATUS	0.47
FIGS	FIGS, Inc.APPAREL & OTHER FINISHD PRODS OF FABRICS & SIMILAR MATL	0.42
KMT	Kennametal Inc.MACHINE TOOLS, METAL CUTTING TYPES	0.42
OSK	Oshkosh Corp.MOTOR VEHICLES & PASSENGER CAR BODIES	0.41

Most inversely correlated with FWRD

Symbol	Company	Correlation
INOD	Innodata Inc.SERVICES-COMPUTER PROCESSING & DATA PREPARATION	-0.32
SMDD	ProShares UltraPro Short MidCap400	-0.31
MZZ	ProShares UltraShort MidCap400	-0.30
MYY	ProShares Short MidCap400	-0.30
SDD	ProShares UltraShort SmallCap600	-0.30

Frequently asked questions about FWRD correlations

Which stocks are most correlated with FWRD?: Based on one year of daily returns, the stocks most correlated with Forward Air Corp (FWRD) are MTD (0.48), AORT (0.47) and FIGS (0.42). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with FWRD?: Over the past year, the stocks most inversely correlated with Forward Air Corp (FWRD) are INOD (-0.32), SMDD (-0.31) and MZZ (-0.30). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these FWRD correlations calculated?: We compute the correlation of daily returns between FWRD and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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