Which stocks are most correlated with EDOW?

Based on one year of daily returns, the stocks most correlated with First Trust Dow 30 Equal Weight ETF (EDOW) are DIA (0.91), DDM (0.91) and UDOW (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 EDOW?

Over the past year, the stocks most inversely correlated with First Trust Dow 30 Equal Weight ETF (EDOW) are DXD (-0.91), SDOW (-0.91) and DOG (-0.91). A negative correlation means the two stocks have tended to move in opposite directions.

First Trust Dow 30 Equal Weight ETF (EDOW) — Stock Correlations & Overview

Over the past year, EDOW has moved most closely with DIA, DDM, UDOW. Explore the stocks most correlated and inversely correlated with EDOW below, along with its price, financials, and company profile.

Stocks correlated with EDOW

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

Most correlated with EDOW

Symbol	Company	Correlation
DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	0.91
DDM	ProShares Ultra Dow30	0.91
UDOW	ProShares UltraPro Dow 30	0.91
ILCV	iShares Morningstar Value ETF	0.89
QUS	State Street SPDR MSCI USA StrategicFactors ETF	0.89

Most inversely correlated with EDOW

Symbol	Company	Correlation
DXD	ProShares UltraShort Dow 30	-0.91
SDOW	ProShares UltraPro Short Dow 30	-0.91
DOG	ProShares Short Dow30	-0.91
SDS	ProShares UltraShort S&P500	-0.72
SBB	ProShares Short SmallCap600	-0.72

Frequently asked questions about EDOW correlations

Which stocks are most correlated with EDOW?: Based on one year of daily returns, the stocks most correlated with First Trust Dow 30 Equal Weight ETF (EDOW) are DIA (0.91), DDM (0.91) and UDOW (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 EDOW?: Over the past year, the stocks most inversely correlated with First Trust Dow 30 Equal Weight ETF (EDOW) are DXD (-0.91), SDOW (-0.91) and DOG (-0.91). 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 EDOW correlations calculated?: We compute the correlation of daily returns between EDOW 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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