Northern Trust Tax-Exempt Bond ETF (TAXT) — Stock Correlations & Overview
Over the past year, TAXT has moved most closely with TAXI, JMUB, VTEB. Explore the stocks most correlated and inversely correlated with TAXT below, along with its price, financials, and company profile.
Stocks correlated with TAXT
Correlation of daily returns. Higher positive values move with TAXT; negative values move opposite it. Informational only, not investment advice.
Most correlated with TAXT
| Symbol | Company | Correlation |
|---|---|---|
| TAXI | Northern Trust Intermediate Tax-Exempt Bond ETF | 0.91 |
| JMUB | JPMorgan Municipal ETF | 0.91 |
| VTEB | Vanguard Tax-Exempt Bond Index Fund | 0.91 |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 0.90 |
| TFI | State Street SPDR Nuveen ICE Municipal Bond ETF | 0.90 |
Most inversely correlated with TAXT
| Symbol | Company | Correlation |
|---|---|---|
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.62 |
| TBX | ProShares Short 7-10 Year Treasury | -0.60 |
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.59 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.58 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.58 |
Frequently asked questions about TAXT correlations
- Which stocks are most correlated with TAXT?
- Based on one year of daily returns, the stocks most correlated with Northern Trust Tax-Exempt Bond ETF (TAXT) are TAXI (0.91), JMUB (0.91) and VTEB (0.91). 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 TAXT?
- Over the past year, the stocks most inversely correlated with Northern Trust Tax-Exempt Bond ETF (TAXT) are PST (-0.62), TBX (-0.60) and TYO (-0.59). 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 TAXT correlations calculated?
- We compute the correlation of daily returns between TAXT 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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