Which stocks are most correlated with FAI?

Based on one year of daily returns, the stocks most correlated with First Trust Bloomberg Artificial Intelligence ETF (FAI) are IGM (0.97), AIQ (0.97) and IYW (0.96). 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 FAI?

Over the past year, the stocks most inversely correlated with First Trust Bloomberg Artificial Intelligence ETF (FAI) are REW (-0.95), TECS (-0.95) and QID (-0.94). A negative correlation means the two stocks have tended to move in opposite directions.

First Trust Bloomberg Artificial Intelligence ETF (FAI) — Stock Correlations & Overview

Over the past year, FAI has moved most closely with IGM, AIQ, IYW. Explore the stocks most correlated and inversely correlated with FAI below, along with its price, financials, and company profile.

Stocks correlated with FAI

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

Most correlated with FAI

Symbol	Company	Correlation
IGM	iShares Expanded Tech Sector ETF	0.97
AIQ	Global X Funds Global X Artificial Intelligence & Technology ETF	0.97
IYW	iShares U.S. Technology ETF	0.96
XAIX	Xtrackers Artificial Intelligence and Big Data ETF	0.96
TTEQ	T. Rowe Price Technology ETF	0.96

Most inversely correlated with FAI

Symbol	Company	Correlation
REW	Proshares UltraShort Technology	-0.95
TECS	Direxion Daily Technology Bear 3x ETF	-0.95
QID	ProShares UltraShort QQQ	-0.94
SQQQ	ProShares UltraPro Short QQQ	-0.94
PSQ	ProShares Short QQQ	-0.94

Frequently asked questions about FAI correlations

Which stocks are most correlated with FAI?: Based on one year of daily returns, the stocks most correlated with First Trust Bloomberg Artificial Intelligence ETF (FAI) are IGM (0.97), AIQ (0.97) and IYW (0.96). 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 FAI?: Over the past year, the stocks most inversely correlated with First Trust Bloomberg Artificial Intelligence ETF (FAI) are REW (-0.95), TECS (-0.95) and QID (-0.94). 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 FAI correlations calculated?: We compute the correlation of daily returns between FAI 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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