Which stocks are most correlated with EAD?

Based on one year of daily returns, the stocks most correlated with Allspring Income Opportunities Fund (EAD) are GHY (0.76), ISD (0.74) and YYY (0.71). 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 EAD?

Over the past year, the stocks most inversely correlated with Allspring Income Opportunities Fund (EAD) are SPXS (-0.61), SPXU (-0.61) and SDS (-0.61). A negative correlation means the two stocks have tended to move in opposite directions.

Allspring Income Opportunities Fund (EAD) — Stock Correlations & Overview

Over the past year, EAD has moved most closely with GHY, ISD, YYY. Explore the stocks most correlated and inversely correlated with EAD below, along with its price, financials, and company profile.

Stocks correlated with EAD

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

Most correlated with EAD

Symbol	Company	Correlation
GHY	PGIM Global High Yield Fund, Inc.	0.76
ISD	PGIM High Yield Bond Fund, Inc.	0.74
YYY	Amplify CEF High Income ETF	0.71
CEFD	ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN	0.69
FCEF	First Trust Exchange-Traded Fund VIII First Trust Income Opportunities ETF	0.69

Most inversely correlated with EAD

Symbol	Company	Correlation
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.61
SPXU	ProShares UltraPro Short S&P 500	-0.61
SDS	ProShares UltraShort S&P500	-0.61
SH	ProShares Short S&P500	-0.61
SPDN	Direxion Daily S&P 500 Bear 1X ETF	-0.60

Frequently asked questions about EAD correlations

Which stocks are most correlated with EAD?: Based on one year of daily returns, the stocks most correlated with Allspring Income Opportunities Fund (EAD) are GHY (0.76), ISD (0.74) and YYY (0.71). 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 EAD?: Over the past year, the stocks most inversely correlated with Allspring Income Opportunities Fund (EAD) are SPXS (-0.61), SPXU (-0.61) and SDS (-0.61). 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 EAD correlations calculated?: We compute the correlation of daily returns between EAD 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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