EWX State Street SPDR S&P Emerging Markets Small Cap ETF

Last close: 65.02
504-day return: +12.87%
Median $/day: $1.4M
Relationships shown: 18
Leader rank: #639

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

EWX vs DGS

Both indexed to 100 at 2026-05-11.

EWX DGS · range 86–102 · 2026-05-11 → 2026-11-06

Follows EWX

These tend to repeat EWX's moves later.

CHW Calamos Global Dynamic Income Fund Common Stock

lag 1dρ +0.21holdout +0.23stable 100%$/day $1.1Mrobust

Moves with EWX

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

DGS WisdomTree Emerging Markets SmallCap Dividend Fund

ρ +0.89beyond mkt +0.65holdout +0.92stable 100%robust

PIE Invesco Exchange-Traded Fund Trust II Invesco Dorsey Wright Emerging Markets Momentum ETF

ρ +0.81beyond mkt +0.50holdout +0.89stable 100%robust

FEM First Trust Emerging Markets AlphaDEX Fund

ρ +0.82beyond mkt +0.48holdout +0.90stable 100%robust

GCOW Pacer Global Cash Cows Dividend ETF

ρ +0.30beyond mkt -0.17holdout +0.03stable 75%moderate

HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF

ρ +0.40beyond mkt -0.16holdout +0.21stable 75%robust

EWA iShares MSCI Australia ETF

ρ +0.58beyond mkt -0.12holdout +0.55stable 100%robust

Moves against EWX

BTAL AGF U.S. Market Neutral Anti-Beta Fund

ρ -0.55beyond mkt +0.10holdout -0.69stable 100%robust

TAIL Cambria Tail Risk ETF

ρ -0.37beyond mkt +0.08holdout -0.41stable 88%robust

VXX iPath Series B S&P 500 VIX Short-Term Futures ETN

ρ -0.50beyond mkt +0.07holdout -0.56stable 100%robust

VIXM ProShares VIX Mid-Term Futures ETF

ρ -0.42beyond mkt +0.05holdout -0.47stable 100%robust

UUP Invesco DB US Dollar Index Bullish Fund

ρ -0.36beyond mkt +0.04holdout -0.34stable 88%robust

Weekly, not daily

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

PTY PIMCO Corporate & Income Opportunity Fund

horizon 10dρ +0.51holdout +0.42stable 88%robust

EVG Eaton Vance Short Duration Diversified Income Fund

horizon 10dρ +0.48holdout +0.35stable 100%robust

PPT Franklin Premier Income Trust

horizon 10dρ +0.43holdout +0.28stable 62%moderate

PDI PIMCO Dynamic Income Fund

horizon 10dρ +0.39holdout +0.24stable 100%robust

DIVB iShares Core Dividend ETF

horizon 10dρ +0.38holdout +0.19stable 75%robust

COWZ Pacer US Cash Cows 100 ETF

horizon 10dρ +0.37holdout +0.12stable 75%moderate

Changed this quarter

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

BWMN Bowman Consulting Group Ltd. Common Stock

Δ -0.69recent -0.30prior +0.39beyond mkt +0.02

TPR Tapestry, Inc. Common Stock

Δ -0.56recent -0.19prior +0.37beyond mkt -0.02

GCOW Pacer Global Cash Cows Dividend ETF

Δ -0.54recent -0.17prior +0.37beyond mkt -0.17

DOW Dow Inc.

Δ -0.54recent -0.36prior +0.18beyond mkt -0.03

DIVB iShares Core Dividend ETF

Δ -0.53recent -0.16prior +0.37beyond mkt -0.01

COWZ Pacer US Cash Cows 100 ETF

Δ -0.51recent -0.15prior +0.36beyond mkt -0.01

Hidden links

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

Symbol	beyond mkt	raw ρ	shared
CNXT VanEck ChiNext Innovators ETF	+0.40	+0.62	5
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	+0.65	+0.89	20
FEM First Trust Emerging Markets AlphaDEX Fund	+0.48	+0.82	18
PIE Invesco Exchange-Traded Fund Trust II Invesco Dorsey Wright Emerging Markets Momentum ETF	+0.50	+0.81	22