AXS Green Alpha ETF (NXTE) — Stock Correlations & Overview
Over the past year, NXTE has moved most closely with CARZ, CGGO, FWD. Explore the stocks most correlated and inversely correlated with NXTE below, along with its price, financials, and company profile.
Stocks correlated with NXTE
Correlation of daily returns. Higher positive values move with NXTE; negative values move opposite it. Informational only, not investment advice.
Most correlated with NXTE
| Symbol | Company | Correlation |
|---|---|---|
| CARZ | First Trust Exchange-Traded Fund II First Trust S-Network Future Vehicles & Technology ETF | 0.91 |
| CGGO | Capital Group Global Growth Equity ETF | 0.91 |
| FWD | AB Disruptors ETF | 0.91 |
| SPHB | Invesco S&P 500 High Beta ETFINVESTMENT ADVICE | 0.91 |
| XNAV | FundX Aggressive ETF | 0.90 |
Most inversely correlated with NXTE
| Symbol | Company | Correlation |
|---|---|---|
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.90 |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -0.88 |
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.87 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.87 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.87 |
Frequently asked questions about NXTE correlations
- Which stocks are most correlated with NXTE?
- Based on one year of daily returns, the stocks most correlated with AXS Green Alpha ETF (NXTE) are CARZ (0.91), CGGO (0.91) and FWD (0.91). 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 NXTE?
- Over the past year, the stocks most inversely correlated with AXS Green Alpha ETF (NXTE) are HIBS (-0.90), SOXS (-0.88) and EDZ (-0.87). 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 NXTE correlations calculated?
- We compute the correlation of daily returns between NXTE 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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