AB Tax-Aware Intermediate Municipal ETF (TAFM) — Stock Correlations & Overview
Over the past year, TAFM has moved most closely with VTEL, NYF, CMF. Explore the stocks most correlated and inversely correlated with TAFM below, along with its price, financials, and company profile.
Stocks correlated with TAFM
Correlation of daily returns. Higher positive values move with TAFM; negative values move opposite it. Informational only, not investment advice.
Most correlated with TAFM
| Symbol | Company | Correlation |
|---|---|---|
| VTEL | Vanguard Long-Term Tax-Exempt Bond ETF | 0.84 |
| NYF | iShares New York Muni Bond ETF | 0.84 |
| CMF | iShares California Muni Bond ETF | 0.83 |
| VTEC | Vanguard California Tax-Exempt Bond ETF | 0.83 |
| TAXM | BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | 0.82 |
Most inversely correlated with TAFM
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.52 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.52 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.52 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.51 |
| TBX | ProShares Short 7-10 Year Treasury | -0.51 |
Frequently asked questions about TAFM correlations
- Which stocks are most correlated with TAFM?
- Based on one year of daily returns, the stocks most correlated with AB Tax-Aware Intermediate Municipal ETF (TAFM) are VTEL (0.84), NYF (0.84) and CMF (0.83). 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 TAFM?
- Over the past year, the stocks most inversely correlated with AB Tax-Aware Intermediate Municipal ETF (TAFM) are PST (-0.52), TYO (-0.52) and TMV (-0.52). 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 TAFM correlations calculated?
- We compute the correlation of daily returns between TAFM 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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