Vanguard California Tax-Exempt Bond ETF (VTEC) — Stock Correlations & Overview
Over the past year, VTEC has moved most closely with VTEB, CMF, VTEI. Explore the stocks most correlated and inversely correlated with VTEC below, along with its price, financials, and company profile.
Stocks correlated with VTEC
Correlation of daily returns. Higher positive values move with VTEC; negative values move opposite it. Informational only, not investment advice.
Most correlated with VTEC
| Symbol | Company | Correlation |
|---|---|---|
| VTEB | Vanguard Tax-Exempt Bond Index Fund | 0.94 |
| CMF | iShares California Muni Bond ETF | 0.94 |
| VTEI | Vanguard Intermediate-Term Tax-Exempt Bond ETF | 0.93 |
| VTEL | Vanguard Long-Term Tax-Exempt Bond ETF | 0.93 |
| NYF | iShares New York Muni Bond ETF | 0.92 |
Most inversely correlated with VTEC
| Symbol | Company | Correlation |
|---|---|---|
| TYO | Direxion Daily 7-10 Year Treasury Bear 3X ETF | -0.58 |
| PST | ProShares Trust UltraShort Lehman 7-10 Year Treasury | -0.58 |
| TMV | Direxion Daily 20+ Year Treasury Bear 3X ETF | -0.57 |
| TBT | ProShares Trust UltraShort Lehman 20+ Year Treasury | -0.56 |
| TBX | ProShares Short 7-10 Year Treasury | -0.55 |
Frequently asked questions about VTEC correlations
- Which stocks are most correlated with VTEC?
- Based on one year of daily returns, the stocks most correlated with Vanguard California Tax-Exempt Bond ETF (VTEC) are VTEB (0.94), CMF (0.94) and VTEI (0.93). 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 VTEC?
- Over the past year, the stocks most inversely correlated with Vanguard California Tax-Exempt Bond ETF (VTEC) are TYO (-0.58), PST (-0.58) and TMV (-0.57). 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 VTEC correlations calculated?
- We compute the correlation of daily returns between VTEC 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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