Global X MSCI Colombia ETF (COLO) — Stock Correlations & Overview
Over the past year, COLO has moved most closely with CIB, GVAL, AVAL. Explore the stocks most correlated and inversely correlated with COLO below, along with its price, financials, and company profile.
Stocks correlated with COLO
Correlation of daily returns. Higher positive values move with COLO; negative values move opposite it. Informational only, not investment advice.
Most correlated with COLO
| Symbol | Company | Correlation |
|---|---|---|
| CIB | Grupo Cibest S.A. American Depositary Shares (each representing four (4) Preferred Shares) | 0.76 |
| GVAL | Cambria Global Value ETF | 0.60 |
| AVAL | GRUPO AVAL ACCIONES Y VALORES S.A. | 0.60 |
| IDVO | Amplify CWP International Enhanced Dividend Income ETF | 0.56 |
| ARP | PMV Adaptive Risk Parity ETF | 0.55 |
Most inversely correlated with COLO
| Symbol | Company | Correlation |
|---|---|---|
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.46 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.46 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.46 |
| BZQ | ProShares UltraShort MSCI Brazil Capped | -0.45 |
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.44 |
Frequently asked questions about COLO correlations
- Which stocks are most correlated with COLO?
- Based on one year of daily returns, the stocks most correlated with Global X MSCI Colombia ETF (COLO) are CIB (0.76), GVAL (0.60) and AVAL (0.60). 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 COLO?
- Over the past year, the stocks most inversely correlated with Global X MSCI Colombia ETF (COLO) are EDZ (-0.46), EUM (-0.46) and EEV (-0.46). 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 COLO correlations calculated?
- We compute the correlation of daily returns between COLO 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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