Themes Transatlantic Defense ETF (NATO) — Stock Correlations & Overview
Over the past year, NATO has moved most closely with ITA, PPA, DFEN. Explore the stocks most correlated and inversely correlated with NATO below, along with its price, financials, and company profile.
Stocks correlated with NATO
Correlation of daily returns. Higher positive values move with NATO; negative values move opposite it. Informational only, not investment advice.
Most correlated with NATO
| Symbol | Company | Correlation |
|---|---|---|
| ITA | iShares U.S. Aerospace & Defense ETF | 0.93 |
| PPA | Invesco Aerospace & Defense ETF | 0.92 |
| DFEN | Direxion Daily Aerospace & Defense Bull 3X ETF | 0.92 |
| IDEF | BlackRock ETF Trust iShares Defense Industrials and Tech Active ETF | 0.91 |
| GCAD | Gabelli Commercial Aerospace and Defense ETF | 0.90 |
Frequently asked questions about NATO correlations
- Which stocks are most correlated with NATO?
- Based on one year of daily returns, the stocks most correlated with Themes Transatlantic Defense ETF (NATO) are ITA (0.93), PPA (0.92) and DFEN (0.92). 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 NATO?
- Over the past year, the stocks most inversely correlated with Themes Transatlantic Defense ETF (NATO) are SIJ (-0.74), JETD (-0.71) and EPV (-0.68). 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 NATO correlations calculated?
- We compute the correlation of daily returns between NATO 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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