Intermediate Municipal Income ETF (TAXE) — Stock Correlations & Overview
Over the past year, TAXE has moved most closely with FMB, FMHI, BSMY. Explore the stocks most correlated and inversely correlated with TAXE below, along with its price, financials, and company profile.
Stocks correlated with TAXE
Correlation of daily returns. Higher positive values move with TAXE; negative values move opposite it. Informational only, not investment advice.
Most correlated with TAXE
| Symbol | Company | Correlation |
|---|---|---|
| FMB | First Trust Managed Municipal ETF | 0.81 |
| FMHI | First Trust Municipal High Income ETF | 0.79 |
| BSMY | Invesco BulletShares 2034 Municipal Bond ETF | 0.79 |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 0.78 |
| NYF | iShares New York Muni Bond ETF | 0.77 |
Most inversely correlated with TAXE
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.57 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.56 |
| TBX | ProShares Short 7-10 Year Treasury | -0.56 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.54 |
| TTT | ProShares UltraPro Short 20+ Year Treasury | -0.54 |
Frequently asked questions about TAXE correlations
- Which stocks are most correlated with TAXE?
- Based on one year of daily returns, the stocks most correlated with Intermediate Municipal Income ETF (TAXE) are FMB (0.81), FMHI (0.79) and BSMY (0.79). 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 TAXE?
- Over the past year, the stocks most inversely correlated with Intermediate Municipal Income ETF (TAXE) are PST (-0.57), TYO (-0.56) and TBX (-0.56). 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 TAXE correlations calculated?
- We compute the correlation of daily returns between TAXE 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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