First Trust Ultra Short Duration Municipal ETF (FUMB) — Stock Correlations & Overview
Over the past year, FUMB has moved most closely with LMBS, FTSL, SCIO. Explore the stocks most correlated and inversely correlated with FUMB below, along with its price, financials, and company profile.
Stocks correlated with FUMB
Correlation of daily returns. Higher positive values move with FUMB; negative values move opposite it. Informational only, not investment advice.
Most correlated with FUMB
| Symbol | Company | Correlation |
|---|---|---|
| LMBS | First Trust Exchange-Traded Fund IV First Trust Low Duration Opportunities ETF | 0.50 |
| FTSL | First Trust Senior Loan Fund ETF | 0.48 |
| SCIO | First Trust Structured Credit Income Opportunities ETF | 0.48 |
| LDSF | First Trust Low Duration Strategic Focus ETF | 0.48 |
| FSIG | First Trust Limited Duration Investment Grade Corporate ETF | 0.47 |
Most inversely correlated with FUMB
| Symbol | Company | Correlation |
|---|---|---|
| GAUZ | Gauzy Ltd. Ordinary Shares | -0.22 |
| CIX | Comp X International Inc.CUTLERY, HANDTOOLS & GENERAL HARDWARE | -0.21 |
| RCON | Recon Technology, Ltd. Class A Ordinary SharesOIL & GAS FIELD SERVICES, NEC | -0.21 |
| PODD | Insulet CorporationSURGICAL & MEDICAL INSTRUMENTS & APPARATUS | -0.20 |
| GM | General Motors CompanyMOTOR VEHICLES & PASSENGER CAR BODIES | -0.20 |
Frequently asked questions about FUMB correlations
- Which stocks are most correlated with FUMB?
- Based on one year of daily returns, the stocks most correlated with First Trust Ultra Short Duration Municipal ETF (FUMB) are LMBS (0.50), FTSL (0.48) and SCIO (0.48). 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 FUMB?
- Over the past year, the stocks most inversely correlated with First Trust Ultra Short Duration Municipal ETF (FUMB) are GAUZ (-0.22), CIX (-0.21) and RCON (-0.21). 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 FUMB correlations calculated?
- We compute the correlation of daily returns between FUMB 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.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.