Motley Fool Next Index ETF (TMFX) — Stock Correlations & Overview
Over the past year, TMFX has moved most closely with QMID, FSGS, NUMG. Explore the stocks most correlated and inversely correlated with TMFX below, along with its price, financials, and company profile.
Stocks correlated with TMFX
Correlation of daily returns. Higher positive values move with TMFX; negative values move opposite it. Informational only, not investment advice.
Most correlated with TMFX
| Symbol | Company | Correlation |
|---|---|---|
| QMID | WisdomTree U.S. MidCap Quality Growth Fund | 0.89 |
| FSGS | First Trust Exchange-Traded Fund VI First Trust SMID Growth Strength ETF | 0.88 |
| NUMG | Nuveen ESG Mid-Cap Growth ETF | 0.88 |
| QSML | WisdomTree U.S. SmallCap Quality Growth Fund | 0.88 |
| GSEW | Goldman Sachs Equal Weight U.S. Large Cap Equity ETF | 0.88 |
Frequently asked questions about TMFX correlations
- Which stocks are most correlated with TMFX?
- Based on one year of daily returns, the stocks most correlated with Motley Fool Next Index ETF (TMFX) are QMID (0.89), FSGS (0.88) and NUMG (0.88). 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 TMFX?
- Over the past year, the stocks most inversely correlated with Motley Fool Next Index ETF (TMFX) are TWM (-0.79), RWM (-0.79) and SRTY (-0.79). 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 TMFX correlations calculated?
- We compute the correlation of daily returns between TMFX 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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