Eaton Vance Short Duration Municipal Income ETF (EVSM) — Stock Correlations & Overview
Over the past year, EVSM has moved most closely with EVIM, EVSD, STAX. Explore the stocks most correlated and inversely correlated with EVSM below, along with its price, financials, and company profile.
Stocks correlated with EVSM
Correlation of daily returns. Higher positive values move with EVSM; negative values move opposite it. Informational only, not investment advice.
Most correlated with EVSM
| Symbol | Company | Correlation |
|---|---|---|
| EVIM | Eaton Vance Intermediate Municipal Income ETF | 0.70 |
| EVSD | Eaton Vance Short Duration Income ETF | 0.70 |
| STAX | Nomura Tax-Free USA Short Term ETF | 0.67 |
| EVYM | Eaton Vance High Income Municipal ETF | 0.67 |
| MFSM | MFS Active Intermediate Muni Bond ETF | 0.66 |
Most inversely correlated with EVSM
| Symbol | Company | Correlation |
|---|---|---|
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.45 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.45 |
| TBF | ProShares Short 20+ Year Treasury ETF | -0.45 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.45 |
| TTT | ProShares UltraPro Short 20+ Year Treasury | -0.44 |
Frequently asked questions about EVSM correlations
- Which stocks are most correlated with EVSM?
- Based on one year of daily returns, the stocks most correlated with Eaton Vance Short Duration Municipal Income ETF (EVSM) are EVIM (0.70), EVSD (0.70) and STAX (0.67). 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 EVSM?
- Over the past year, the stocks most inversely correlated with Eaton Vance Short Duration Municipal Income ETF (EVSM) are TMV (-0.45), TBT (-0.45) and TBF (-0.45). 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 EVSM correlations calculated?
- We compute the correlation of daily returns between EVSM 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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