AB Tax-Aware Short Duration Municipal ETF (TAFI) — Stock Correlations & Overview
Over the past year, TAFI has moved most closely with SMMU, CAM, MINO. Explore the stocks most correlated and inversely correlated with TAFI below, along with its price, financials, and company profile.
Stocks correlated with TAFI
Correlation of daily returns. Higher positive values move with TAFI; negative values move opposite it. Informational only, not investment advice.
Most correlated with TAFI
| Symbol | Company | Correlation |
|---|---|---|
| SMMU | PIMCO Short Term Municipal Bond Active Exchange-Traded Fund | 0.75 |
| CAM | AB California Intermediate Municipal ETF | 0.75 |
| MINO | PIMCO Municipal Income Opportunities Active ETF | 0.73 |
| JMUB | JPMorgan Municipal ETF | 0.73 |
| MUNI | PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund | 0.73 |
Most inversely correlated with TAFI
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.47 |
| TBX | ProShares Short 7-10 Year Treasury | -0.45 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.45 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.44 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.44 |
Frequently asked questions about TAFI correlations
- Which stocks are most correlated with TAFI?
- Based on one year of daily returns, the stocks most correlated with AB Tax-Aware Short Duration Municipal ETF (TAFI) are SMMU (0.75), CAM (0.75) and MINO (0.73). 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 TAFI?
- Over the past year, the stocks most inversely correlated with AB Tax-Aware Short Duration Municipal ETF (TAFI) are PST (-0.47), TBX (-0.45) and TBT (-0.45). 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 TAFI correlations calculated?
- We compute the correlation of daily returns between TAFI 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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