VictoryShares Emerging Markets Value Momentum ETF (UEVM) — Stock Correlations & Overview
Over the past year, UEVM has moved most closely with FNDE, PXH, JPEM. Explore the stocks most correlated and inversely correlated with UEVM below, along with its price, financials, and company profile.
Stocks correlated with UEVM
Correlation of daily returns. Higher positive values move with UEVM; negative values move opposite it. Informational only, not investment advice.
Most correlated with UEVM
| Symbol | Company | Correlation |
|---|---|---|
| FNDE | Schwab Fundamental Emerging Markets Equity ETF | 0.93 |
| PXH | Invesco RAFI Emerging Markets ETF | 0.93 |
| JPEM | JPMorgan Diversified Return Emerging Markets Equity ETF | 0.92 |
| SCHE | Schwab Emerging Markets Equity ETF | 0.91 |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | 0.91 |
Most inversely correlated with UEVM
| Symbol | Company | Correlation |
|---|---|---|
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.84 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.84 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.83 |
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.77 |
| EFZ | ProShares Trust Short MSCI EAFE | -0.77 |
Frequently asked questions about UEVM correlations
- Which stocks are most correlated with UEVM?
- Based on one year of daily returns, the stocks most correlated with VictoryShares Emerging Markets Value Momentum ETF (UEVM) are FNDE (0.93), PXH (0.93) and JPEM (0.92). 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 UEVM?
- Over the past year, the stocks most inversely correlated with VictoryShares Emerging Markets Value Momentum ETF (UEVM) are EDZ (-0.84), EEV (-0.84) and EUM (-0.83). 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 UEVM correlations calculated?
- We compute the correlation of daily returns between UEVM 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.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.