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