Which stocks are most correlated with FDEM?

Based on one year of daily returns, the stocks most correlated with Fidelity Emerging Markets Multifactor ETF (FDEM) are EDC (0.97), EEM (0.97) and DFAE (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 FDEM?

Over the past year, the stocks most inversely correlated with Fidelity Emerging Markets Multifactor ETF (FDEM) are EDZ (-0.97), EEV (-0.96) and EUM (-0.96). A negative correlation means the two stocks have tended to move in opposite directions.

Fidelity Emerging Markets Multifactor ETF (FDEM) — Stock Correlations & Overview

Over the past year, FDEM has moved most closely with EDC, EEM, DFAE. Explore the stocks most correlated and inversely correlated with FDEM below, along with its price, financials, and company profile.

Stocks correlated with FDEM

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

Most correlated with FDEM

Symbol	Company	Correlation
EDC	Direxion Daily MSCI Emerging Markets Bull 3X ETF	0.97
EEM	iShares MSCI Emerging Markets ETF	0.97
DFAE	Dimensional Emerging Core Equity Market ETF	0.97
ESGE	iShares, Inc. iShares ESG Aware MSCI EM ETF	0.97
IEMG	iShares Core MSCI Emerging Markets ETF	0.97

Most inversely correlated with FDEM

Symbol	Company	Correlation
EDZ	Direxion Daily MSCI Emerging Markets Bear 3X ETF	-0.97
EEV	ProShares Trust UltraShort MSCI Emerging Markets	-0.96
EUM	ProShares Trust Short MSCI Emerging Markets	-0.96
TSXD	Direxion Daily Semiconductors Top 5 Bear 2X ETF	-0.79
QID	ProShares UltraShort QQQ	-0.79

Frequently asked questions about FDEM correlations

Which stocks are most correlated with FDEM?: Based on one year of daily returns, the stocks most correlated with Fidelity Emerging Markets Multifactor ETF (FDEM) are EDC (0.97), EEM (0.97) and DFAE (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 FDEM?: Over the past year, the stocks most inversely correlated with Fidelity Emerging Markets Multifactor ETF (FDEM) are EDZ (-0.97), EEV (-0.96) and EUM (-0.96). 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 FDEM correlations calculated?: We compute the correlation of daily returns between FDEM 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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