EUAD Select STOXX Europe Aerospace & Defense ETF

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

EUAD vs SHLD

Both indexed to 100 at 2026-05-11.

EUAD SHLD · range 90–119 · 2026-05-11 → 2026-11-06

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

SHLD Global X Defense Tech ETF

ρ +0.71beyond mkt +0.67holdout +0.68stable 100%robust

NATO Themes ETF Trust Themes Transatlantic Defense ETF

ρ +0.75beyond mkt +0.66holdout +0.85stable 100%robust

ITA iShares U.S. Aerospace & Defense ETF

ρ +0.55beyond mkt +0.40holdout +0.73stable 100%robust

PIZ Invesco Exchange-Traded Fund Trust II Invesco Dorsey Wright Developed Markets Momentum ETF

ρ +0.58beyond mkt +0.34holdout +0.61stable 100%robust

ESLT Elbit Systems Ltd. Ordinary Shares

ρ +0.39beyond mkt +0.34holdout +0.44stable 88%robust

IMOM EA Series Trust Alpha Architect International Quantitative Momentum ETF

ρ +0.57beyond mkt +0.33holdout +0.54stable 100%robust

No day-to-day relationship, but 5- or 10-day returns move together.

CCIF Carlyle Credit Income Fund Shares of Beneficial Interest

horizon 10dρ +0.36holdout +0.23stable 75%robust

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

BTA Beacon Tactical Alternatives Risk ETF

Δ -0.58recent -0.45prior +0.13beyond mkt +0.06

CNSP CNS Pharmaceuticals, Inc. Common Stock

Δ -0.46recent -0.32prior +0.14beyond mkt +0.07

HURN Huron Consulting Group Inc. Common Stock

Δ -0.44recent -0.36prior +0.09beyond mkt -0.02

HARD Simplify Commodities Strategy No K-1 ETF

Δ -0.40recent -0.44prior -0.04beyond mkt -0.03

LSTR Landstar System, Inc. Common Stock

Δ +0.39recent +0.46prior +0.07beyond mkt +0.04

IMPP Imperial Petroleum Inc. Common Shares

Δ -0.38recent -0.30prior +0.08beyond mkt +0.04

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared
SHLD Global X Defense Tech ETF	+0.67	+0.71	10
NATO Themes ETF Trust Themes Transatlantic Defense ETF	+0.66	+0.75	11
ITA iShares U.S. Aerospace & Defense ETF	+0.40	+0.55	10