Which stocks are most correlated with FAB?

Based on one year of daily returns, the stocks most correlated with First Trust Multi Cap Value AlphaDEX Fund (FAB) are FNK (0.98), FTA (0.96) and DON (0.94). 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 FAB?

Over the past year, the stocks most inversely correlated with First Trust Multi Cap Value AlphaDEX Fund (FAB) are SBB (-0.82), SDD (-0.81) and SMDD (-0.75). A negative correlation means the two stocks have tended to move in opposite directions.

First Trust Multi Cap Value AlphaDEX Fund (FAB) — Stock Correlations & Overview

Over the past year, FAB has moved most closely with FNK, FTA, DON. Explore the stocks most correlated and inversely correlated with FAB below, along with its price, financials, and company profile.

Stocks correlated with FAB

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

Most correlated with FAB

Symbol	Company	Correlation
FNK	First Trust Mid Cap Value AlphaDEX Fund	0.98
FTA	First Trust Large Cap Value AlphaDEX Fund (based on the Defined Large Cap Value Index--symbol DEFILVOI)	0.96
DON	WisdomTree U.S. MidCap Dividend Fund	0.94
VFVA	Vanguard U.S. Value Factor ETF	0.94
FYT	First Trust Small Cap Value AlphaDEX Fund	0.94

Most inversely correlated with FAB

Symbol	Company	Correlation
SBB	ProShares Short SmallCap600	-0.82
SDD	ProShares UltraShort SmallCap600	-0.81
SMDD	ProShares UltraPro Short MidCap400	-0.75
SKRE	Tuttle Capital Daily 2X Inverse Regional Banks ETF	-0.75
MYY	ProShares Short MidCap400	-0.75

Frequently asked questions about FAB correlations

Which stocks are most correlated with FAB?: Based on one year of daily returns, the stocks most correlated with First Trust Multi Cap Value AlphaDEX Fund (FAB) are FNK (0.98), FTA (0.96) and DON (0.94). 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 FAB?: Over the past year, the stocks most inversely correlated with First Trust Multi Cap Value AlphaDEX Fund (FAB) are SBB (-0.82), SDD (-0.81) and SMDD (-0.75). 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 FAB correlations calculated?: We compute the correlation of daily returns between FAB 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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