VanEck Short High Yield Muni ETF (SHYD) — Stock Correlations & Overview
Over the past year, SHYD has moved most closely with ITM, VTEC, TAXI. Explore the stocks most correlated and inversely correlated with SHYD below, along with its price, financials, and company profile.
Stocks correlated with SHYD
Correlation of daily returns. Higher positive values move with SHYD; negative values move opposite it. Informational only, not investment advice.
Most correlated with SHYD
| Symbol | Company | Correlation |
|---|---|---|
| ITM | VanEck Intermediate Muni ETF | 0.74 |
| VTEC | Vanguard California Tax-Exempt Bond ETF | 0.73 |
| TAXI | Northern Trust Intermediate Tax-Exempt Bond ETF | 0.72 |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 0.72 |
| MUNI | PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund | 0.72 |
Most inversely correlated with SHYD
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.44 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.43 |
| TBX | ProShares Short 7-10 Year Treasury | -0.43 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.41 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.40 |
Frequently asked questions about SHYD correlations
- Which stocks are most correlated with SHYD?
- Based on one year of daily returns, the stocks most correlated with VanEck Short High Yield Muni ETF (SHYD) are ITM (0.74), VTEC (0.73) and TAXI (0.72). 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 SHYD?
- Over the past year, the stocks most inversely correlated with VanEck Short High Yield Muni ETF (SHYD) are PST (-0.44), TYO (-0.43) and TBX (-0.43). 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 SHYD correlations calculated?
- We compute the correlation of daily returns between SHYD 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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