American Beacon Ionic Inflation Protection ETF (CPII) — Stock Correlations & Overview
Over the past year, CPII has moved most closely with BNO, DCMT, DBE. Explore the stocks most correlated and inversely correlated with CPII below, along with its price, financials, and company profile.
Stocks correlated with CPII
Correlation of daily returns. Higher positive values move with CPII; negative values move opposite it. Informational only, not investment advice.
Most correlated with CPII
| Symbol | Company | Correlation |
|---|---|---|
| BNO | United States Brent Oil Fund, LPCOMMODITY CONTRACTS BROKERS & DEALERS | 0.50 |
| DCMT | DoubleLine Commodity Strategy ETF | 0.49 |
| DBE | Invesco DB Energy FundCOMMODITY CONTRACTS BROKERS & DEALERS | 0.49 |
| COMT | iShares U.S. ETF Trust iShares GSCI Commodity Dynamic Roll Strategy ETF | 0.49 |
| UGA | United States Gasoline Fund, LPCOMMODITY CONTRACTS BROKERS & DEALERS | 0.48 |
Most inversely correlated with CPII
| Symbol | Company | Correlation |
|---|---|---|
| SCO | ProShares UltraShort Bloomberg Crude OilCOMMODITY CONTRACTS BROKERS & DEALERS | -0.46 |
| EMB | iShares J.P. Morgan USD Emerging Markets Bond ETF | -0.45 |
| EMBX | VanEck Emerging Markets Bond ETF | -0.43 |
| JPMB | JPMorgan USD Emerging Markets Sovereign Bond ETF | -0.42 |
| VWOB | Vanguard Emerging Markets Government Bond ETF | -0.42 |
Frequently asked questions about CPII correlations
- Which stocks are most correlated with CPII?
- Based on one year of daily returns, the stocks most correlated with American Beacon Ionic Inflation Protection ETF (CPII) are BNO (0.50), DCMT (0.49) and DBE (0.49). 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 CPII?
- Over the past year, the stocks most inversely correlated with American Beacon Ionic Inflation Protection ETF (CPII) are SCO (-0.46), EMB (-0.45) and EMBX (-0.43). 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 CPII correlations calculated?
- We compute the correlation of daily returns between CPII 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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