Nuveen ESG Mid-Cap Growth ETF (NUMG) — Stock Correlations & Overview
Over the past year, NUMG has moved most closely with TMFX, IWP, QQEW. Explore the stocks most correlated and inversely correlated with NUMG below, along with its price, financials, and company profile.
Stocks correlated with NUMG
Correlation of daily returns. Higher positive values move with NUMG; negative values move opposite it. Informational only, not investment advice.
Most correlated with NUMG
| Symbol | Company | Correlation |
|---|---|---|
| TMFX | Motley Fool Next Index ETF | 0.88 |
| IWP | iShares Russell Mid-Cap Growth ETF | 0.88 |
| QQEW | First Trust Nasdaq-100 Select Equal Weight ETF | 0.88 |
| NXTI | Simplify Next Intangible Core Index ETF | 0.88 |
| VOT | Vanguard Morningstar Mid-Cap Growth ETF | 0.87 |
Most inversely correlated with NUMG
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.81 |
| SDS | ProShares UltraShort S&P500 | -0.76 |
| SPXU | ProShares UltraPro Short S&P 500 | -0.75 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.75 |
| SPXS | Direxion Daily S&P 500 Bear 3x ETF | -0.75 |
Frequently asked questions about NUMG correlations
- Which stocks are most correlated with NUMG?
- Based on one year of daily returns, the stocks most correlated with Nuveen ESG Mid-Cap Growth ETF (NUMG) are TMFX (0.88), IWP (0.88) and QQEW (0.88). 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 NUMG?
- Over the past year, the stocks most inversely correlated with Nuveen ESG Mid-Cap Growth ETF (NUMG) are WEBS (-0.81), SDS (-0.76) and SPXU (-0.75). 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 NUMG correlations calculated?
- We compute the correlation of daily returns between NUMG 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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