FPA Short Duration Government ETF (FPAS) — Stock Correlations & Overview
Over the past year, FPAS has moved most closely with TYA, TYD, XSVN. Explore the stocks most correlated and inversely correlated with FPAS below, along with its price, financials, and company profile.
Stocks correlated with FPAS
Correlation of daily returns. Higher positive values move with FPAS; negative values move opposite it. Informational only, not investment advice.
Most correlated with FPAS
| Symbol | Company | Correlation |
|---|---|---|
| TYA | Simplify Intermediate Term Treasury Futures Strategy ETF | 0.80 |
| TYD | Direxion Daily 7-10 Year Treasury Bull 3X ETF | 0.78 |
| XSVN | BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF | 0.77 |
| USVN | US Treasury 7 Year Note ETF | 0.77 |
| MLDR | Global X Intermediate-Term Treasury Ladder ETF | 0.77 |
Most inversely correlated with FPAS
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.76 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.76 |
| TBX | ProShares Short 7-10 Year Treasury | -0.71 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.64 |
| TBF | ProShares Short 20+ Year Treasury ETF | -0.62 |
Frequently asked questions about FPAS correlations
- Which stocks are most correlated with FPAS?
- Based on one year of daily returns, the stocks most correlated with FPA Short Duration Government ETF (FPAS) are TYA (0.80), TYD (0.78) and XSVN (0.77). 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 FPAS?
- Over the past year, the stocks most inversely correlated with FPA Short Duration Government ETF (FPAS) are PST (-0.76), TYO (-0.76) and TBX (-0.71). 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 FPAS correlations calculated?
- We compute the correlation of daily returns between FPAS 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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