Allspring Ultra Short Municipal ETF (AUSM) — Stock Correlations & Overview
Over the past year, AUSM has moved most closely with ILS, AINP, CURX. Explore the stocks most correlated and inversely correlated with AUSM below, along with its price, financials, and company profile.
Stocks correlated with AUSM
Correlation of daily returns. Higher positive values move with AUSM; negative values move opposite it. Informational only, not investment advice.
Most correlated with AUSM
| Symbol | Company | Correlation |
|---|---|---|
| ILS | Brookmont Catastrophic Bond ETF | 0.32 |
| AINP | Allspring Income Plus ETF | 0.27 |
| CURX | Curanex Pharmaceuticals Inc Common StockPHARMACEUTICAL PREPARATIONS | 0.23 |
| GSpD | Goldman Sachs Group, Inc. (Each representing 1/1000th Interest in a Share of Floating Rate Non-cumulative Preferred Stock Series D, $1.01 par valueSECURITY BROKERS, DEALERS & FLOTATION COMPANIES | 0.23 |
| YB | Yuanbao Inc. American Depositary Shares | 0.22 |
Most inversely correlated with AUSM
| Symbol | Company | Correlation |
|---|---|---|
| SAFT | Safety Insurance Group IncFIRE, MARINE & CASUALTY INSURANCE | -0.24 |
| SXT | Sensient Technology CorporationINDUSTRIAL ORGANIC CHEMICALS | -0.24 |
| BNGO | Bionano Genomics, Inc. Common StockLABORATORY ANALYTICAL INSTRUMENTS | -0.21 |
| GITS | Global Interactive Technologies, Inc. Common StockSERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. | -0.20 |
| AMUU | Direxion Shares ETF Trust Direxion Daily AMD Bull 2X ETF | -0.20 |
Frequently asked questions about AUSM correlations
- Which stocks are most correlated with AUSM?
- Based on one year of daily returns, the stocks most correlated with Allspring Ultra Short Municipal ETF (AUSM) are ILS (0.32), AINP (0.27) and CURX (0.23). 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 AUSM?
- Over the past year, the stocks most inversely correlated with Allspring Ultra Short Municipal ETF (AUSM) are SAFT (-0.24), SXT (-0.24) and BNGO (-0.21). 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 AUSM correlations calculated?
- We compute the correlation of daily returns between AUSM 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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