Direxion Daily MSCI Emerging Markets Bear 3X ETF (EDZ) — Stock Correlations & Overview
Over the past year, EDZ has moved most closely with EEV, EUM, TSXD. Explore the stocks most correlated and inversely correlated with EDZ below, along with its price, financials, and company profile.
Stocks correlated with EDZ
Correlation of daily returns. Higher positive values move with EDZ; negative values move opposite it. Informational only, not investment advice.
Most correlated with EDZ
| Symbol | Company | Correlation |
|---|---|---|
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | 0.99 |
| EUM | ProShares Trust Short MSCI Emerging Markets | 0.99 |
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | 0.83 |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | 0.83 |
| SQQQ | ProShares UltraPro Short QQQ | 0.83 |
Most inversely correlated with EDZ
| Symbol | Company | Correlation |
|---|---|---|
| EEM | iShares MSCI Emerging Markets ETF | -0.99 |
| EDC | Direxion Daily MSCI Emerging Markets Bull 3X ETF | -0.99 |
| IEMG | iShares Core MSCI Emerging Markets ETF | -0.99 |
| XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | -0.99 |
| ESGE | iShares, Inc. iShares ESG Aware MSCI EM ETF | -0.99 |
Frequently asked questions about EDZ correlations
- Which stocks are most correlated with EDZ?
- Based on one year of daily returns, the stocks most correlated with Direxion Daily MSCI Emerging Markets Bear 3X ETF (EDZ) are EEV (0.99), EUM (0.99) and TSXD (0.83). 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 EDZ?
- Over the past year, the stocks most inversely correlated with Direxion Daily MSCI Emerging Markets Bear 3X ETF (EDZ) are EEM (-0.99), EDC (-0.99) and IEMG (-0.99). 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 EDZ correlations calculated?
- We compute the correlation of daily returns between EDZ 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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