First Trust Multi Cap Growth AlphaDEX Fund (FAD) — Stock Correlations & Overview
Over the past year, FAD has moved most closely with FNY, FTC, MMSC. Explore the stocks most correlated and inversely correlated with FAD below, along with its price, financials, and company profile.
Stocks correlated with FAD
Correlation of daily returns. Higher positive values move with FAD; negative values move opposite it. Informational only, not investment advice.
Most correlated with FAD
| Symbol | Company | Correlation |
|---|---|---|
| FNY | First Trust Mid Cap Growth AlphaDEX Fund | 0.98 |
| FTC | First Trust Large Cap Growth AlphaDEX Fund (based on the Defined Large Cap Growth Index--symbol DEFILGOI) | 0.97 |
| MMSC | First Trust Multi-Manager Small Cap Opportunities ETF | 0.97 |
| VBK | Vanguard Morningstar Small-Cap Growth ETF | 0.96 |
| VFMO | Vanguard U.S. Momentum Factor ETF | 0.96 |
Frequently asked questions about FAD correlations
- Which stocks are most correlated with FAD?
- Based on one year of daily returns, the stocks most correlated with First Trust Multi Cap Growth AlphaDEX Fund (FAD) are FNY (0.98), FTC (0.97) and MMSC (0.97). 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 FAD?
- Over the past year, the stocks most inversely correlated with First Trust Multi Cap Growth AlphaDEX Fund (FAD) are HIBS (-0.94), TZA (-0.93) and SRTY (-0.93). 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 FAD correlations calculated?
- We compute the correlation of daily returns between FAD 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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