Eaton Vance High Income Municipal ETF (EVYM) — Stock Correlations & Overview
Over the past year, EVYM has moved most closely with HTAX, MFSM, CGHM. Explore the stocks most correlated and inversely correlated with EVYM below, along with its price, financials, and company profile.
Stocks correlated with EVYM
Correlation of daily returns. Higher positive values move with EVYM; negative values move opposite it. Informational only, not investment advice.
Most correlated with EVYM
| Symbol | Company | Correlation |
|---|---|---|
| HTAX | Nomura National High-Yield Municipal Bond ETF | 0.85 |
| MFSM | MFS Active Intermediate Muni Bond ETF | 0.82 |
| CGHM | Capital Group Municipal High-Income ETF | 0.81 |
| HYD | VanEck High Yield Muni ETF | 0.81 |
| EVIM | Eaton Vance Intermediate Municipal Income ETF | 0.80 |
Most inversely correlated with EVYM
| Symbol | Company | Correlation |
|---|---|---|
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.62 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.61 |
| TBF | ProShares Short 20+ Year Treasury ETF | -0.61 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.61 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.60 |
Frequently asked questions about EVYM correlations
- Which stocks are most correlated with EVYM?
- Based on one year of daily returns, the stocks most correlated with Eaton Vance High Income Municipal ETF (EVYM) are HTAX (0.85), MFSM (0.82) and CGHM (0.81). 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 EVYM?
- Over the past year, the stocks most inversely correlated with Eaton Vance High Income Municipal ETF (EVYM) are TBT (-0.62), TMV (-0.61) and TBF (-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 EVYM correlations calculated?
- We compute the correlation of daily returns between EVYM 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.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.