Which stocks are most correlated with FMTM?

Based on one year of daily returns, the stocks most correlated with MarketDesk Focused U.S. Momentum ETF (FMTM) are FWD (0.91), PDP (0.90) and FTC (0.89). 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 FMTM?

Over the past year, the stocks most inversely correlated with MarketDesk Focused U.S. Momentum ETF (FMTM) are HIBS (-0.86), SOXS (-0.84) and BTAL (-0.81). A negative correlation means the two stocks have tended to move in opposite directions.

MarketDesk Focused U.S. Momentum ETF (FMTM) — Stock Correlations & Overview

Over the past year, FMTM has moved most closely with FWD, PDP, FTC. Explore the stocks most correlated and inversely correlated with FMTM below, along with its price, financials, and company profile.

Stocks correlated with FMTM

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

Most correlated with FMTM

Symbol	Company	Correlation
FWD	AB Disruptors ETF	0.91
PDP	Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Momentum ETF	0.90
FTC	First Trust Large Cap Growth AlphaDEX Fund (based on the Defined Large Cap Growth Index--symbol DEFILGOI)	0.89
STRN	SMART Trend 25 ETFSERVICES-ADVERTISING AGENCIES	0.89
CNAV	Mohr Company Nav ETF	0.89

Most inversely correlated with FMTM

Symbol	Company	Correlation
HIBS	Direxion Daily S&P 500 High Beta Bear 3X ETF	-0.86
SOXS	Direxion Daily Semiconductor Bear 3X ETF	-0.84
BTAL	AGF U.S. Market Neutral Anti-Beta Fund	-0.81
TECS	Direxion Daily Technology Bear 3x ETF	-0.81
REW	Proshares UltraShort Technology	-0.81

Frequently asked questions about FMTM correlations

Which stocks are most correlated with FMTM?: Based on one year of daily returns, the stocks most correlated with MarketDesk Focused U.S. Momentum ETF (FMTM) are FWD (0.91), PDP (0.90) and FTC (0.89). 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 FMTM?: Over the past year, the stocks most inversely correlated with MarketDesk Focused U.S. Momentum ETF (FMTM) are HIBS (-0.86), SOXS (-0.84) and BTAL (-0.81). 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 FMTM correlations calculated?: We compute the correlation of daily returns between FMTM 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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