PGIM Municipal Income Opportunities ETF (PMIO) — Stock Correlations & Overview
Over the past year, PMIO has moved most closely with MMIT, VTEB, TAXI. Explore the stocks most correlated and inversely correlated with PMIO below, along with its price, financials, and company profile.
Stocks correlated with PMIO
Correlation of daily returns. Higher positive values move with PMIO; negative values move opposite it. Informational only, not investment advice.
Most correlated with PMIO
| Symbol | Company | Correlation |
|---|---|---|
| MMIT | NYLIM MacKay Muni Intermediate ETF | 0.81 |
| VTEB | Vanguard Tax-Exempt Bond Index Fund | 0.80 |
| TAXI | Northern Trust Intermediate Tax-Exempt Bond ETF | 0.80 |
| TAXT | Northern Trust Tax-Exempt Bond ETF | 0.80 |
| VTEL | Vanguard Long-Term Tax-Exempt Bond ETF | 0.80 |
Most inversely correlated with PMIO
| Symbol | Company | Correlation |
|---|---|---|
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.60 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.59 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.59 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.58 |
| TBF | ProShares Short 20+ Year Treasury ETF | -0.58 |
Frequently asked questions about PMIO correlations
- Which stocks are most correlated with PMIO?
- Based on one year of daily returns, the stocks most correlated with PGIM Municipal Income Opportunities ETF (PMIO) are MMIT (0.81), VTEB (0.80) and TAXI (0.80). 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 PMIO?
- Over the past year, the stocks most inversely correlated with PGIM Municipal Income Opportunities ETF (PMIO) are TBT (-0.60), PST (-0.59) and TMV (-0.59). 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 PMIO correlations calculated?
- We compute the correlation of daily returns between PMIO 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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