Invesco RAFI Emerging Markets ETF (PXH) — Stock Correlations & Overview
Over the past year, PXH has moved most closely with FNDE, SPEM, VWO. Explore the stocks most correlated and inversely correlated with PXH below, along with its price, financials, and company profile.
Stocks correlated with PXH
Correlation of daily returns. Higher positive values move with PXH; negative values move opposite it. Informational only, not investment advice.
Most correlated with PXH
| Symbol | Company | Correlation |
|---|---|---|
| FNDE | Schwab Fundamental Emerging Markets Equity ETF | 0.95 |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | 0.94 |
| VWO | Vanguard FTSE Emerging Markets ETF | 0.93 |
| SCHE | Schwab Emerging Markets Equity ETF | 0.93 |
| UEVM | VictoryShares Emerging Markets Value Momentum ETF | 0.93 |
Most inversely correlated with PXH
| Symbol | Company | Correlation |
|---|---|---|
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.88 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.87 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.87 |
| EFZ | ProShares Trust Short MSCI EAFE | -0.76 |
| YANG | Direxion Daily FTSE China Bear 3X ETF | -0.76 |
Frequently asked questions about PXH correlations
- Which stocks are most correlated with PXH?
- Based on one year of daily returns, the stocks most correlated with Invesco RAFI Emerging Markets ETF (PXH) are FNDE (0.95), SPEM (0.94) and VWO (0.93). 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 PXH?
- Over the past year, the stocks most inversely correlated with Invesco RAFI Emerging Markets ETF (PXH) are EDZ (-0.88), EEV (-0.87) and EUM (-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 PXH correlations calculated?
- We compute the correlation of daily returns between PXH 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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