Putnam Emerging Markets ex-China ETF (PEMX) — Stock Correlations & Overview
Over the past year, PEMX has moved most closely with EMXC, TLTE, STXE. Explore the stocks most correlated and inversely correlated with PEMX below, along with its price, financials, and company profile.
Stocks correlated with PEMX
Correlation of daily returns. Higher positive values move with PEMX; negative values move opposite it. Informational only, not investment advice.
Most correlated with PEMX
| Symbol | Company | Correlation |
|---|---|---|
| EMXC | iShares MSCI Emerging Markets ex China ETF | 0.95 |
| TLTE | Northern Trust Morningstar Emerging Markets Factor Tilt ETF | 0.95 |
| STXE | Strive Emerging Markets Ex-China ETF | 0.95 |
| XCEM | Columbia EM Core ex-China ETF | 0.94 |
| FLAX | Franklin FTSE Asia ex Japan ETF | 0.94 |
Most inversely correlated with PEMX
| Symbol | Company | Correlation |
|---|---|---|
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.93 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.93 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.93 |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -0.80 |
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | -0.79 |
Frequently asked questions about PEMX correlations
- Which stocks are most correlated with PEMX?
- Based on one year of daily returns, the stocks most correlated with Putnam Emerging Markets ex-China ETF (PEMX) are EMXC (0.95), TLTE (0.95) and STXE (0.95). 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 PEMX?
- Over the past year, the stocks most inversely correlated with Putnam Emerging Markets ex-China ETF (PEMX) are EDZ (-0.93), EEV (-0.93) and EUM (-0.93). 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 PEMX correlations calculated?
- We compute the correlation of daily returns between PEMX 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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