Madison Short-Term Strategic Income ETF (MSTI) — Stock Correlations & Overview
Over the past year, MSTI has moved most closely with MAGG, JHCB, JHMU. Explore the stocks most correlated and inversely correlated with MSTI below, along with its price, financials, and company profile.
Stocks correlated with MSTI
Correlation of daily returns. Higher positive values move with MSTI; negative values move opposite it. Informational only, not investment advice.
Most correlated with MSTI
| Symbol | Company | Correlation |
|---|---|---|
| MAGG | Madison Aggregate Bond ETF | 0.67 |
| JHCB | John Hancock Corporate Bond ETF | 0.59 |
| JHMU | John Hancock Dynamic Municipal Bond ETF | 0.55 |
| JHCP | John Hancock Core Plus Bond ETF | 0.55 |
| JHCR | John Hancock Core Bond ETF | 0.55 |
Most inversely correlated with MSTI
| Symbol | Company | Correlation |
|---|---|---|
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.51 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.50 |
| TBX | ProShares Short 7-10 Year Treasury | -0.47 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.47 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.46 |
Frequently asked questions about MSTI correlations
- Which stocks are most correlated with MSTI?
- Based on one year of daily returns, the stocks most correlated with Madison Short-Term Strategic Income ETF (MSTI) are MAGG (0.67), JHCB (0.59) and JHMU (0.55). 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 MSTI?
- Over the past year, the stocks most inversely correlated with Madison Short-Term Strategic Income ETF (MSTI) are TYO (-0.51), PST (-0.50) and TBX (-0.47). 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 MSTI correlations calculated?
- We compute the correlation of daily returns between MSTI 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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