First Trust Managed Municipal ETF (FMB) — Stock Correlations & Overview
Over the past year, FMB has moved most closely with FMHI, FCAL, MUB. Explore the stocks most correlated and inversely correlated with FMB below, along with its price, financials, and company profile.
Stocks correlated with FMB
Correlation of daily returns. Higher positive values move with FMB; negative values move opposite it. Informational only, not investment advice.
Most correlated with FMB
| Symbol | Company | Correlation |
|---|---|---|
| FMHI | First Trust Municipal High Income ETF | 0.95 |
| FCAL | First Trust California Municipal High income ETF | 0.86 |
| MUB | iShares National Muni Bond ETF | 0.84 |
| VTEB | Vanguard Tax-Exempt Bond Index Fund | 0.83 |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 0.83 |
Most inversely correlated with FMB
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.62 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.61 |
| TBX | ProShares Short 7-10 Year Treasury | -0.60 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.59 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.59 |
Frequently asked questions about FMB correlations
- Which stocks are most correlated with FMB?
- Based on one year of daily returns, the stocks most correlated with First Trust Managed Municipal ETF (FMB) are FMHI (0.95), FCAL (0.86) and MUB (0.84). 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 FMB?
- Over the past year, the stocks most inversely correlated with First Trust Managed Municipal ETF (FMB) are PST (-0.62), TYO (-0.61) and TBX (-0.60). 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 FMB correlations calculated?
- We compute the correlation of daily returns between FMB 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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