SP Funds S&P World (ex-US) ETF (SPWO) — Stock Correlations & Overview
Over the past year, SPWO has moved most closely with CGNG, UMMA, EEM. Explore the stocks most correlated and inversely correlated with SPWO below, along with its price, financials, and company profile.
Stocks correlated with SPWO
Correlation of daily returns. Higher positive values move with SPWO; negative values move opposite it. Informational only, not investment advice.
Most correlated with SPWO
| Symbol | Company | Correlation |
|---|---|---|
| CGNG | Capital Group New Geography Equity ETF | 0.97 |
| UMMA | Wahed Dow Jones Islamic World ETF | 0.96 |
| EEM | iShares MSCI Emerging Markets ETF | 0.96 |
| XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | 0.96 |
| AVEM | Avantis Emerging Markets Equity ETF | 0.96 |
Most inversely correlated with SPWO
| Symbol | Company | Correlation |
|---|---|---|
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.96 |
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.95 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.95 |
| TSMZ | Direxion Shares ETF Trust Direxion Daily TSM Bear 1X ETF | -0.85 |
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.85 |
Frequently asked questions about SPWO correlations
- Which stocks are most correlated with SPWO?
- Based on one year of daily returns, the stocks most correlated with SP Funds S&P World (ex-US) ETF (SPWO) are CGNG (0.97), UMMA (0.96) and EEM (0.96). 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 SPWO?
- Over the past year, the stocks most inversely correlated with SP Funds S&P World (ex-US) ETF (SPWO) are EUM (-0.96), EDZ (-0.95) and EEV (-0.95). 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 SPWO correlations calculated?
- We compute the correlation of daily returns between SPWO 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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