Which stocks are most correlated with DAX?

Based on one year of daily returns, the stocks most correlated with Global X Funds Global X DAX Germany ETF (DAX) are EWG (0.97), FLGR (0.96) and FEZ (0.91). 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 DAX?

Over the past year, the stocks most inversely correlated with Global X Funds Global X DAX Germany ETF (DAX) are EPV (-0.89), EFU (-0.87) and EFZ (-0.86). A negative correlation means the two stocks have tended to move in opposite directions.

Global X Funds Global X DAX Germany ETF (DAX) — Stock Correlations & Overview

Over the past year, DAX has moved most closely with EWG, FLGR, FEZ. Explore the stocks most correlated and inversely correlated with DAX below, along with its price, financials, and company profile.

Stocks correlated with DAX

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

Most correlated with DAX

Symbol	Company	Correlation
EWG	iShares MSCI Germany ETF	0.97
FLGR	Franklin FTSE Germany ETF	0.96
FEZ	State Street SPDR EURO STOXX 50 ETF	0.91
UPV	ProShares Ultra FTSE Europe	0.90
EZU	iShare MSCI Eurozone ETF of ISHARES INC.	0.90

Most inversely correlated with DAX

Symbol	Company	Correlation
EPV	ProShares UltraShort FTSE Europe	-0.89
EFU	ProShares Trust UltraShort MSCI EAFE	-0.87
EFZ	ProShares Trust Short MSCI EAFE	-0.86
SPXU	ProShares UltraPro Short S&P 500	-0.73
SDOW	ProShares UltraPro Short Dow 30	-0.73

Frequently asked questions about DAX correlations

Which stocks are most correlated with DAX?: Based on one year of daily returns, the stocks most correlated with Global X Funds Global X DAX Germany ETF (DAX) are EWG (0.97), FLGR (0.96) and FEZ (0.91). 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 DAX?: Over the past year, the stocks most inversely correlated with Global X Funds Global X DAX Germany ETF (DAX) are EPV (-0.89), EFU (-0.87) and EFZ (-0.86). 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 DAX correlations calculated?: We compute the correlation of daily returns between DAX 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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