Research popular ETFs, funds and stocks to find other funds with returns that are practically identical, extremely similar all the way to negatively correlated.

What does practically identical mean?

Two stocks being practically identical means that when you look at the daily movement of the stocks, along with the return profiles going back 1, 2 and 5 years, the stocks have pratically identical movements and return profiles.
A simple example of this would be the Schwab ETF SCHB and the Vanguard fund VTI, which both attempt to index the same underlying groups of stocks and thus have very similar movements and returns.

What does extremely similar mean?

Two stocks that are extremely similar means that their return profiles and daily movements are, as the name suggests, extremely similar, but there is just enough difference in the movements and/or returns that they may or may not be drop-in replacements for one another. This could be due to slight differences in the underlying assets, or different expense ratios, or comparing some mutual funds and ETFs that are designed to be similar.

What does negatively correlated mean?

This means that if you look at the daily movement of two stocks, they generally move in the opposite direction.
The types of funds which are negatively correlated will generally have entirely different types of assets, or are designed to move in opposite directions.
An example of extremely negatively correlated stocks would be comparing an ETF designed to short the S&P 500, such as SH, to an ETF that is designed to track the S&P 500, such as VOO or IVV. In these cases, the negative correlation is -99%, meaning that these stocks move almost perfectly opposite one another.

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All correlation calculations and similarity scores use our proprietary logic, which may or may not reflect all the nuances or relations between various stocks. None of the information provided constitutes a recommendation to buy or sell, a trading strategy, nor should the information provided to be taken as any guarantee of a relationship between two stocks either in the past, present or future. All the information is provided "as is" and the user assumes the entire risk of any use of this information. All data is provided for internal use only and may not be reproduced with permission from the administrator of All Trademarks and other marks on this site not owned by are the property of their respective owners.