Which stocks are most correlated with KSA?

Based on one year of daily returns, the stocks most correlated with iShares MSCI Saudi Arabia ETF (KSA) are FLSA (0.96), EELV (0.51) and GEW (0.45). 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 KSA?

Over the past year, the stocks most inversely correlated with iShares MSCI Saudi Arabia ETF (KSA) are SPDN (-0.40), EFU (-0.37) and SPXS (-0.37). A negative correlation means the two stocks have tended to move in opposite directions.

iShares MSCI Saudi Arabia ETF (KSA) — Stock Correlations & Overview

Over the past year, KSA has moved most closely with FLSA, EELV, GEW. Explore the stocks most correlated and inversely correlated with KSA below, along with its price, financials, and company profile.

Stocks correlated with KSA

Correlation of daily returns. Higher positive values move with KSA; negative values move opposite it. Informational only, not investment advice.

Most correlated with KSA

Symbol	Company	Correlation
FLSA	Franklin FTSE Saudi Arabia ETF	0.96
EELV	Invesco S&P Emerging Markets Low Volatility ETFINVESTMENT ADVICE	0.51
GEW	Cambria Global EW ETF	0.45
VEXC	Vanguard Emerging Markets Ex-China ETF	0.45
TEND	iShares Large Cap 10% Target Buffer Dec ETF	0.45

Most inversely correlated with KSA

Symbol	Company	Correlation
SPDN	Direxion Daily S&P 500 Bear 1X ETF	-0.40
EFU	ProShares Trust UltraShort MSCI EAFE	-0.37
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.37
SDS	ProShares UltraShort S&P500	-0.37
EDZ	Direxion Daily MSCI Emerging Markets Bear 3X ETF	-0.37

Frequently asked questions about KSA correlations

Which stocks are most correlated with KSA?: Based on one year of daily returns, the stocks most correlated with iShares MSCI Saudi Arabia ETF (KSA) are FLSA (0.96), EELV (0.51) and GEW (0.45). 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 KSA?: Over the past year, the stocks most inversely correlated with iShares MSCI Saudi Arabia ETF (KSA) are SPDN (-0.40), EFU (-0.37) and SPXS (-0.37). 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 KSA correlations calculated?: We compute the correlation of daily returns between KSA 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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