Capital Group New Geography Equity ETF (CGNG) — Stock Correlations & Overview
Over the past year, CGNG has moved most closely with EEM, XSOE, IEMG. Explore the stocks most correlated and inversely correlated with CGNG below, along with its price, financials, and company profile.
Stocks correlated with CGNG
Correlation of daily returns. Higher positive values move with CGNG; negative values move opposite it. Informational only, not investment advice.
Most correlated with CGNG
| Symbol | Company | Correlation |
|---|---|---|
| EEM | iShares MSCI Emerging Markets ETF | 0.97 |
| XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | 0.97 |
| IEMG | iShares Core MSCI Emerging Markets ETF | 0.97 |
| AVEM | Avantis Emerging Markets Equity ETF | 0.97 |
| EDC | Direxion Daily MSCI Emerging Markets Bull 3X ETF | 0.97 |
Frequently asked questions about CGNG correlations
- Which stocks are most correlated with CGNG?
- Based on one year of daily returns, the stocks most correlated with Capital Group New Geography Equity ETF (CGNG) are EEM (0.97), XSOE (0.97) and IEMG (0.97). 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 CGNG?
- Over the past year, the stocks most inversely correlated with Capital Group New Geography Equity ETF (CGNG) are EDZ (-0.97), EUM (-0.97) and EEV (-0.97). 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 CGNG correlations calculated?
- We compute the correlation of daily returns between CGNG 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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