Which stocks are most correlated with FAN?

Based on one year of daily returns, the stocks most correlated with First Trust Global Wind Energy ETF (FAN) are RNRG (0.82), FRNW (0.82) and GRID (0.77). 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 FAN?

Over the past year, the stocks most inversely correlated with First Trust Global Wind Energy ETF (FAN) are EFZ (-0.69), EUM (-0.68) and EEV (-0.68). A negative correlation means the two stocks have tended to move in opposite directions.

First Trust Global Wind Energy ETF (FAN) — Stock Correlations & Overview

Over the past year, FAN has moved most closely with RNRG, FRNW, GRID. Explore the stocks most correlated and inversely correlated with FAN below, along with its price, financials, and company profile.

Stocks correlated with FAN

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

Most correlated with FAN

Symbol	Company	Correlation
RNRG	Global X Funds Global X Renewable Energy Producers ETF	0.82
FRNW	Fidelity Clean Energy ETF	0.82
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.77
SMOG	VanEck Low Carbon Energy ETF	0.77
PBD	Invesco Global Clean Energy ETFINVESTMENT ADVICE	0.76

Most inversely correlated with FAN

Symbol	Company	Correlation
EFZ	ProShares Trust Short MSCI EAFE	-0.69
EUM	ProShares Trust Short MSCI Emerging Markets	-0.68
EEV	ProShares Trust UltraShort MSCI Emerging Markets	-0.68
EDZ	Direxion Daily MSCI Emerging Markets Bear 3X ETF	-0.68
EFU	ProShares Trust UltraShort MSCI EAFE	-0.67

Frequently asked questions about FAN correlations

Which stocks are most correlated with FAN?: Based on one year of daily returns, the stocks most correlated with First Trust Global Wind Energy ETF (FAN) are RNRG (0.82), FRNW (0.82) and GRID (0.77). 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 FAN?: Over the past year, the stocks most inversely correlated with First Trust Global Wind Energy ETF (FAN) are EFZ (-0.69), EUM (-0.68) and EEV (-0.68). 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 FAN correlations calculated?: We compute the correlation of daily returns between FAN 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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