First Trust Energy AlphaDEX Fund (FXN) — Stock Correlations & Overview
Over the past year, FXN has moved most closely with FTXN, RSPG, IEO. Explore the stocks most correlated and inversely correlated with FXN below, along with its price, financials, and company profile.
Stocks correlated with FXN
Correlation of daily returns. Higher positive values move with FXN; negative values move opposite it. Informational only, not investment advice.
Most correlated with FXN
| Symbol | Company | Correlation |
|---|---|---|
| FTXN | First Trust Nasdaq Oil & Gas ETF | 0.97 |
| RSPG | Invesco S&P 500 Equal Weight Energy ETF | 0.97 |
| IEO | iShares U.S. Oil & Gas Exploration & Production ETF | 0.95 |
| FCG | First Trust Natural Gas ETF | 0.95 |
| PXE | Invesco Energy Exploration & Production ETF | 0.95 |
Most inversely correlated with FXN
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.95 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.95 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.93 |
| DUG | ProShares UltraShort Energy | -0.93 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.93 |
Frequently asked questions about FXN correlations
- Which stocks are most correlated with FXN?
- Based on one year of daily returns, the stocks most correlated with First Trust Energy AlphaDEX Fund (FXN) are FTXN (0.97), RSPG (0.97) and IEO (0.95). 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 FXN?
- Over the past year, the stocks most inversely correlated with First Trust Energy AlphaDEX Fund (FXN) are DRIP (-0.95), OILD (-0.95) and ERY (-0.93). 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 FXN correlations calculated?
- We compute the correlation of daily returns between FXN 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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