Federated Hermes MDT Market Neutral ETF (MKTN) — Stock Correlations & Overview
Over the past year, MKTN has moved most closely with ADBE, ADBG, IT. Explore the stocks most correlated and inversely correlated with MKTN below, along with its price, financials, and company profile.
Stocks correlated with MKTN
Correlation of daily returns. Higher positive values move with MKTN; negative values move opposite it. Informational only, not investment advice.
Most correlated with MKTN
| Symbol | Company | Correlation |
|---|---|---|
| ADBE | Adobe Inc.SERVICES-PREPACKAGED SOFTWARE | 0.31 |
| ADBG | Leverage Shares 2X Long ADBE Daily ETF | 0.31 |
| IT | Gartner, Inc.SERVICES-MANAGEMENT SERVICES | 0.30 |
| CRM | Salesforce, Inc.SERVICES-PREPACKAGED SOFTWARE | 0.30 |
| CRMG | Leverage Shares 2X Long CRM Daily ETF | 0.29 |
Most inversely correlated with MKTN
| Symbol | Company | Correlation |
|---|---|---|
| CGTL | Creative Global Technology Holdings Limited Class A Ordinary Shares | -0.26 |
| BRNS | Barinthus Biotherapeutics plc American Depositary SharesPHARMACEUTICAL PREPARATIONS | -0.23 |
| CAMT | Camtek Ltd | -0.23 |
| ROLR | High Roller Technologies, Inc.SERVICES-AMUSEMENT & RECREATION SERVICES | -0.23 |
| KWM | K Wave Media, Ltd. Ordinary Shares | -0.23 |
Frequently asked questions about MKTN correlations
- Which stocks are most correlated with MKTN?
- Based on one year of daily returns, the stocks most correlated with Federated Hermes MDT Market Neutral ETF (MKTN) are ADBE (0.31), ADBG (0.31) and IT (0.30). 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 MKTN?
- Over the past year, the stocks most inversely correlated with Federated Hermes MDT Market Neutral ETF (MKTN) are CGTL (-0.26), BRNS (-0.23) and CAMT (-0.23). 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 MKTN correlations calculated?
- We compute the correlation of daily returns between MKTN 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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