Which stocks are most correlated with FLSA?

Based on one year of daily returns, the stocks most correlated with Franklin FTSE Saudi Arabia ETF (FLSA) are KSA (0.96), EELV (0.51) and MDAA (0.44). 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 FLSA?

Over the past year, the stocks most inversely correlated with Franklin FTSE Saudi Arabia ETF (FLSA) are SPDN (-0.40), EDZ (-0.37) and SPXS (-0.37). A negative correlation means the two stocks have tended to move in opposite directions.

Franklin FTSE Saudi Arabia ETF (FLSA) — Stock Correlations & Overview

Over the past year, FLSA has moved most closely with KSA, EELV, MDAA. Explore the stocks most correlated and inversely correlated with FLSA below, along with its price, financials, and company profile.

Stocks correlated with FLSA

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

Most correlated with FLSA

Symbol	Company	Correlation
KSA	iShares MSCI Saudi Arabia ETF	0.96
EELV	Invesco S&P Emerging Markets Low Volatility ETFINVESTMENT ADVICE	0.51
MDAA	Myriad Dynamic Asset Allocation ETF	0.44
DEM	WisdomTree Emerging Markets High Dividend Fund	0.43
TEND	iShares Large Cap 10% Target Buffer Dec ETF	0.43

Most inversely correlated with FLSA

Symbol	Company	Correlation
SPDN	Direxion Daily S&P 500 Bear 1X ETF	-0.40
EDZ	Direxion Daily MSCI Emerging Markets Bear 3X ETF	-0.37
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.37
AIBD	Direxion Daily AI and Big Data Bear 2X ETF	-0.37
EFU	ProShares Trust UltraShort MSCI EAFE	-0.37

Frequently asked questions about FLSA correlations

Which stocks are most correlated with FLSA?: Based on one year of daily returns, the stocks most correlated with Franklin FTSE Saudi Arabia ETF (FLSA) are KSA (0.96), EELV (0.51) and MDAA (0.44). 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 FLSA?: Over the past year, the stocks most inversely correlated with Franklin FTSE Saudi Arabia ETF (FLSA) are SPDN (-0.40), EDZ (-0.37) and SPXS (-0.37). 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 FLSA correlations calculated?: We compute the correlation of daily returns between FLSA 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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