PLUS Korea Defense Industry Index ETF (KDEF) — Stock Correlations & Overview
Over the past year, KDEF has moved most closely with WDAF, IDEF, FDTS. Explore the stocks most correlated and inversely correlated with KDEF below, along with its price, financials, and company profile.
Stocks correlated with KDEF
Correlation of daily returns. Higher positive values move with KDEF; negative values move opposite it. Informational only, not investment advice.
Most correlated with KDEF
| Symbol | Company | Correlation |
|---|---|---|
| WDAF | WisdomTree Asia Defense Fund | 0.87 |
| IDEF | BlackRock ETF Trust iShares Defense Industrials and Tech Active ETF | 0.63 |
| FDTS | First Trust Developed Markets ex-US Small Cap AlphaDEX Fund | 0.61 |
| FPA | First Trust Asia Pacific ex-Japan AlphaDEX Fund | 0.61 |
| AVEE | Avantis Emerging Markets Small Cap Equity ETF | 0.60 |
Most inversely correlated with KDEF
| Symbol | Company | Correlation |
|---|---|---|
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.49 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.48 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.48 |
| SPXS | Direxion Daily S&P 500 Bear 3x ETF | -0.46 |
| SPXU | ProShares UltraPro Short S&P 500 | -0.46 |
Frequently asked questions about KDEF correlations
- Which stocks are most correlated with KDEF?
- Based on one year of daily returns, the stocks most correlated with PLUS Korea Defense Industry Index ETF (KDEF) are WDAF (0.87), IDEF (0.63) and FDTS (0.61). 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 KDEF?
- Over the past year, the stocks most inversely correlated with PLUS Korea Defense Industry Index ETF (KDEF) are EDZ (-0.49), EUM (-0.48) and EEV (-0.48). 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 KDEF correlations calculated?
- We compute the correlation of daily returns between KDEF 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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