NYLIM MacKay Muni Short Duration ETF (MMSD) — Stock Correlations & Overview
Over the past year, MMSD has moved most closely with PMIO, CPLB, MFSM. Explore the stocks most correlated and inversely correlated with MMSD below, along with its price, financials, and company profile.
Stocks correlated with MMSD
Correlation of daily returns. Higher positive values move with MMSD; negative values move opposite it. Informational only, not investment advice.
Most correlated with MMSD
| Symbol | Company | Correlation |
|---|---|---|
| PMIO | PGIM Municipal Income Opportunities ETF | 0.72 |
| CPLB | NYLIM MacKay Core Plus Bond ETF | 0.71 |
| MFSM | MFS Active Intermediate Muni Bond ETF | 0.68 |
| MMIT | NYLIM MacKay Muni Intermediate ETF | 0.68 |
| PCS | PGIM Corporate Bond 0-5 Year ETF | 0.68 |
Most inversely correlated with MMSD
| Symbol | Company | Correlation |
|---|---|---|
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.53 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.52 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.52 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.52 |
| TBF | ProShares Short 20+ Year Treasury ETF | -0.51 |
Frequently asked questions about MMSD correlations
- Which stocks are most correlated with MMSD?
- Based on one year of daily returns, the stocks most correlated with NYLIM MacKay Muni Short Duration ETF (MMSD) are PMIO (0.72), CPLB (0.71) and MFSM (0.68). 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 MMSD?
- Over the past year, the stocks most inversely correlated with NYLIM MacKay Muni Short Duration ETF (MMSD) are TBT (-0.53), PST (-0.52) and TYO (-0.52). 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 MMSD correlations calculated?
- We compute the correlation of daily returns between MMSD 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.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.