State Street SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) — Stock Correlations & Overview
Over the past year, QEMM has moved most closely with EEMX, DFAE, DFEM. Explore the stocks most correlated and inversely correlated with QEMM below, along with its price, financials, and company profile.
Stocks correlated with QEMM
Correlation of daily returns. Higher positive values move with QEMM; negative values move opposite it. Informational only, not investment advice.
Most correlated with QEMM
| Symbol | Company | Correlation |
|---|---|---|
| EEMX | State Street SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 0.95 |
| DFAE | Dimensional Emerging Core Equity Market ETF | 0.94 |
| DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 0.94 |
| IEMG | iShares Core MSCI Emerging Markets ETF | 0.94 |
| SEEM | SEI Select Emerging Markets Equity ETF | 0.94 |
Most inversely correlated with QEMM
| Symbol | Company | Correlation |
|---|---|---|
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.93 |
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.93 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.93 |
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.79 |
| SQQQ | ProShares UltraPro Short QQQ | -0.79 |
Frequently asked questions about QEMM correlations
- Which stocks are most correlated with QEMM?
- Based on one year of daily returns, the stocks most correlated with State Street SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) are EEMX (0.95), DFAE (0.94) and DFEM (0.94). 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 QEMM?
- Over the past year, the stocks most inversely correlated with State Street SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) are EEV (-0.93), EDZ (-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 QEMM correlations calculated?
- We compute the correlation of daily returns between QEMM 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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