From the outside looking in, it’s tough to imagine a positive scenario materializing in the near term for freight rail network CSX Corp (CSX). Primarily hauling bulk commodities such as coal, agricultural products and minerals, the company is as far removed from glamorous as one can get. At the same time, the business represents a central component of the broader economy.
As such, CSX stock should be insulated from wild volatility. Unfortunately, so far this year, the equity has suffered a steep loss of nearly 14%. To put this figure into perspective, the benchmark S&P 500 index is down only 6.06% during the same frame. Even the Nasdaq Composite index has fared better, losing just under 10%.
