Cambria Global Momentum ETF (GMOM) — Stock Correlations & Overview
Over the past year, GMOM has moved most closely with PRAE, ENDW, PPI. Explore the stocks most correlated and inversely correlated with GMOM below, along with its price, financials, and company profile.
Stocks correlated with GMOM
Correlation of daily returns. Higher positive values move with GMOM; negative values move opposite it. Informational only, not investment advice.
Most correlated with GMOM
| Symbol | Company | Correlation |
|---|---|---|
| PRAE | PlanRock Alternative Growth ETF | 0.88 |
| ENDW | Cambria Endowment Style ETF | 0.86 |
| PPI | Investment Managers Series Trust II Astoria Real Assets ETF | 0.86 |
| MGNR | American Beacon GLG Natural Resources ETF | 0.86 |
| RAA | SMI 3Fourteen REAL Asset Allocation ETF | 0.86 |
Most inversely correlated with GMOM
| Symbol | Company | Correlation |
|---|---|---|
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.76 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.75 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.75 |
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.73 |
| ZSL | ProShares UltraShort SilverCOMMODITY CONTRACTS BROKERS & DEALERS | -0.73 |
Frequently asked questions about GMOM correlations
- Which stocks are most correlated with GMOM?
- Based on one year of daily returns, the stocks most correlated with Cambria Global Momentum ETF (GMOM) are PRAE (0.88), ENDW (0.86) and PPI (0.86). 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 GMOM?
- Over the past year, the stocks most inversely correlated with Cambria Global Momentum ETF (GMOM) are JDST (-0.76), DUST (-0.75) and GDXD (-0.75). 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 GMOM correlations calculated?
- We compute the correlation of daily returns between GMOM 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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