iShares Short Duration High Yield Muni Active ETF (SHYM) — Stock Correlations & Overview
Over the past year, SHYM has moved most closely with MUNI, MUB, VTEI. Explore the stocks most correlated and inversely correlated with SHYM below, along with its price, financials, and company profile.
Stocks correlated with SHYM
Correlation of daily returns. Higher positive values move with SHYM; negative values move opposite it. Informational only, not investment advice.
Most correlated with SHYM
| Symbol | Company | Correlation |
|---|---|---|
| MUNI | PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund | 0.79 |
| MUB | iShares National Muni Bond ETF | 0.79 |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 0.78 |
| FLMI | Franklin Dynamic Municipal Bond ETF | 0.78 |
| CMF | iShares California Muni Bond ETF | 0.78 |
Most inversely correlated with SHYM
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.50 |
| TBX | ProShares Short 7-10 Year Treasury | -0.49 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.49 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.45 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.44 |
Frequently asked questions about SHYM correlations
- Which stocks are most correlated with SHYM?
- Based on one year of daily returns, the stocks most correlated with iShares Short Duration High Yield Muni Active ETF (SHYM) are MUNI (0.79), MUB (0.79) and VTEI (0.78). 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 SHYM?
- Over the past year, the stocks most inversely correlated with iShares Short Duration High Yield Muni Active ETF (SHYM) are PST (-0.50), TBX (-0.49) and TYO (-0.49). 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 SHYM correlations calculated?
- We compute the correlation of daily returns between SHYM 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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