Which stocks are most correlated with AIRR?

Based on one year of daily returns, the stocks most correlated with First Trust RBA American Industrial Renaissance ETF (AIRR) are PRN (0.93), PAVE (0.91) and PKB (0.90). 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 AIRR?

Over the past year, the stocks most inversely correlated with First Trust RBA American Industrial Renaissance ETF (AIRR) are SMDD (-0.83), MZZ (-0.82) and TZA (-0.82). A negative correlation means the two stocks have tended to move in opposite directions.

First Trust RBA American Industrial Renaissance ETF (AIRR) — Stock Correlations & Overview

Over the past year, AIRR has moved most closely with PRN, PAVE, PKB. Explore the stocks most correlated and inversely correlated with AIRR below, along with its price, financials, and company profile.

Stocks correlated with AIRR

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

Most correlated with AIRR

Symbol	Company	Correlation
PRN	Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Industrials Momentum ETF	0.93
PAVE	Global X U.S. Infrastructure Development ETF	0.91
PKB	Invesco Building & Construction ETF	0.90
VIS	Vanguard Industrials ETF	0.90
FIDU	Fidelity MSCI Industrials Index ETF	0.89

Most inversely correlated with AIRR

Symbol	Company	Correlation
SMDD	ProShares UltraPro Short MidCap400	-0.83
MZZ	ProShares UltraShort MidCap400	-0.82
TZA	Direxion Daily Small Cap Bear 3x ETF	-0.82
MYY	ProShares Short MidCap400	-0.82
SIJ	ProShares UltraShort Industrials	-0.82

Frequently asked questions about AIRR correlations

Which stocks are most correlated with AIRR?: Based on one year of daily returns, the stocks most correlated with First Trust RBA American Industrial Renaissance ETF (AIRR) are PRN (0.93), PAVE (0.91) and PKB (0.90). 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 AIRR?: Over the past year, the stocks most inversely correlated with First Trust RBA American Industrial Renaissance ETF (AIRR) are SMDD (-0.83), MZZ (-0.82) and TZA (-0.82). 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 AIRR correlations calculated?: We compute the correlation of daily returns between AIRR 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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