iShares MSCI All Country Asia ex Japan ETF (AAXJ) — Stock Correlations & Overview
Over the past year, AAXJ has moved most closely with EEM, EDC, IEMG. Explore the stocks most correlated and inversely correlated with AAXJ below, along with its price, financials, and company profile.
Stocks correlated with AAXJ
Correlation of daily returns. Higher positive values move with AAXJ; negative values move opposite it. Informational only, not investment advice.
Most correlated with AAXJ
| Symbol | Company | Correlation |
|---|---|---|
| EEM | iShares MSCI Emerging Markets ETF | 0.99 |
| EDC | Direxion Daily MSCI Emerging Markets Bull 3X ETF | 0.99 |
| IEMG | iShares Core MSCI Emerging Markets ETF | 0.99 |
| ESGE | iShares, Inc. iShares ESG Aware MSCI EM ETF | 0.99 |
| DFAE | Dimensional Emerging Core Equity Market ETF | 0.99 |
Most inversely correlated with AAXJ
| Symbol | Company | Correlation |
|---|---|---|
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.99 |
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.99 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.98 |
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | -0.83 |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -0.83 |
Frequently asked questions about AAXJ correlations
- Which stocks are most correlated with AAXJ?
- Based on one year of daily returns, the stocks most correlated with iShares MSCI All Country Asia ex Japan ETF (AAXJ) are EEM (0.99), EDC (0.99) and IEMG (0.99). 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 AAXJ?
- Over the past year, the stocks most inversely correlated with iShares MSCI All Country Asia ex Japan ETF (AAXJ) are EEV (-0.99), EDZ (-0.99) and EUM (-0.98). 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 AAXJ correlations calculated?
- We compute the correlation of daily returns between AAXJ 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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