First Trust Dow Jones Internet Index Fund ETF (FDN) — Stock Correlations & Overview
Over the past year, FDN has moved most closely with WEBL, FDND, OGIG. Explore the stocks most correlated and inversely correlated with FDN below, along with its price, financials, and company profile.
Stocks correlated with FDN
Correlation of daily returns. Higher positive values move with FDN; negative values move opposite it. Informational only, not investment advice.
Most correlated with FDN
| Symbol | Company | Correlation |
|---|---|---|
| WEBL | Direxion Daily Dow Jones Internet Bull 3X ETF | 1.00 |
| FDND | FT Vest Dow Jones Internet & Target Income ETF | 0.99 |
| OGIG | ALPS O'Shares Global Internet Giants ETF | 0.91 |
| PNQI | Invesco NASDAQ Internet ETF | 0.89 |
| LGRO | Level Four Large Cap Growth Active ETF | 0.88 |
Most inversely correlated with FDN
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -1.00 |
| FNGD | MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038COMMERCIAL BANKS, NEC | -0.78 |
| QQQD | Direxion Daily Magnificent 7 Bear 1X ETF | -0.77 |
| SDS | ProShares UltraShort S&P500 | -0.74 |
| SPXU | ProShares UltraPro Short S&P 500 | -0.74 |
Frequently asked questions about FDN correlations
- Which stocks are most correlated with FDN?
- Based on one year of daily returns, the stocks most correlated with First Trust Dow Jones Internet Index Fund ETF (FDN) are WEBL (1.00), FDND (0.99) and OGIG (0.91). 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 FDN?
- Over the past year, the stocks most inversely correlated with First Trust Dow Jones Internet Index Fund ETF (FDN) are WEBS (-1.00), FNGD (-0.78) and QQQD (-0.77). 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 FDN correlations calculated?
- We compute the correlation of daily returns between FDN 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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