Pacer Nasdaq International Patent Leaders ETF (PATN) — Stock Correlations & Overview
Over the past year, PATN has moved most closely with UMMA, REMG, EMGF. Explore the stocks most correlated and inversely correlated with PATN below, along with its price, financials, and company profile.
Stocks correlated with PATN
Correlation of daily returns. Higher positive values move with PATN; negative values move opposite it. Informational only, not investment advice.
Most correlated with PATN
| Symbol | Company | Correlation |
|---|---|---|
| UMMA | Wahed Dow Jones Islamic World ETF | 0.96 |
| REMG | Russell Investments Exchange Traded Funds Russell Investments Emerging Markets Equity ETF | 0.96 |
| EMGF | iShares Emerging Markets Equity Factor ETF | 0.96 |
| EDC | Direxion Daily MSCI Emerging Markets Bull 3X ETF | 0.96 |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | 0.95 |
Most inversely correlated with PATN
| Symbol | Company | Correlation |
|---|---|---|
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.95 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.95 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.95 |
| EWV | ProShares Trust UltraShort MSCI Japan | -0.84 |
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.83 |
Frequently asked questions about PATN correlations
- Which stocks are most correlated with PATN?
- Based on one year of daily returns, the stocks most correlated with Pacer Nasdaq International Patent Leaders ETF (PATN) are UMMA (0.96), REMG (0.96) and EMGF (0.96). 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 PATN?
- Over the past year, the stocks most inversely correlated with Pacer Nasdaq International Patent Leaders ETF (PATN) are EDZ (-0.95), EUM (-0.95) and EEV (-0.95). 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 PATN correlations calculated?
- We compute the correlation of daily returns between PATN 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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