Why UPS has Underperformed FedEx This Year

The theory goes a bit like this: United Parcel Service (NYSE: UPS  ) and FedEx (NYSE: FDX  ) are both stocks whose revenue growth correlates with economic growth, the stock market, and, ultimately, each other. Unfortunately, the theory is wrong -- at least it has been in 2014. UPS has managed to decline 4.4% in 2014, while the S&P 500 is up 7.4% and FedEx has risen more than 16% in the same period. Why is this so, and what do investors need to know about UPS going forward?

4 reasons UPS has underperformedThe first three reasons are matters that also relate to FedEx, while the last reason talks about UPS' position relative to FedEx:


READ THE FULL EQUITY RESEARCH ARTICLE LINKED HERE