FEM First Trust Emerging Markets AlphaDEX Fund

Last close: 29.99
504-day return: +40.27%
Median $/day: $1.7M
Relationships shown: 18
Leader rank: #776

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

Same exposure: FEMS move almost identically to FEM (|ρ| ≥ 0.93). Same-day relationships for the group are listed here.

FEM vs FNDE

Both indexed to 100 at 2026-05-11.

FEM FNDE · range 89–104 · 2026-05-11 → 2026-11-06

Follows FEM

These tend to repeat FEM's moves later.

CHW Calamos Global Dynamic Income Fund Common Stock

lag 1dρ +0.20holdout +0.20stable 75%$/day $1.1Mrobust

Moves with FEM

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

FNDE Schwab Fundamental Emerging Markets Equity ETF

ρ +0.88beyond mkt +0.57holdout +0.90stable 100%robust

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

ρ +0.80beyond mkt +0.51holdout +0.90stable 100%robust

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

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

FCA First Trust China AlphaDEX Fund

ρ +0.65beyond mkt +0.44holdout +0.49stable 100%robust

JPEM JPMorgan Diversified Return Emerging Markets Equity ETF

ρ +0.83beyond mkt +0.43holdout +0.82stable 100%robust

ECOW Pacer Funds Pacer Emerging Markets Cash Cows 100 ETF

ρ +0.78beyond mkt +0.42holdout +0.73stable 100%robust

Moves against FEM

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

ρ -0.51beyond mkt +0.13holdout -0.68stable 100%robust

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

ρ -0.48beyond mkt +0.07holdout -0.55stable 100%robust

VIXM ProShares VIX Mid-Term Futures ETF

ρ -0.39beyond mkt +0.06holdout -0.46stable 100%robust

TAIL Cambria Tail Risk ETF

ρ -0.39beyond mkt +0.05holdout -0.42stable 100%robust

UUP Invesco DB US Dollar Index Bullish Fund

ρ -0.38beyond mkt +0.05holdout -0.36stable 100%robust

Weekly, not daily

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

PDI PIMCO Dynamic Income Fund

horizon 10dρ +0.44holdout +0.32stable 88%robust

BBDC Barings BDC, Inc.

horizon 10dρ +0.36holdout +0.40stable 62%moderate

ONEY State Street SPDR Russell 1000 Yield Focus ETF

horizon 10dρ +0.36holdout +0.12stable 75%moderate

KODK EASTMAN KODAK COMPANY

horizon 5dρ +0.34holdout +0.43stable 75%robust

DIVB iShares Core Dividend ETF

horizon 5dρ +0.33holdout +0.13stable 75%moderate

PAWZ ProShares Pet Care ETF

horizon 5dρ +0.31holdout +0.05stable 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 -0.52recent -0.16prior +0.36beyond mkt +0.01

TPR Tapestry, Inc. Common Stock

Δ -0.50recent -0.19prior +0.31beyond mkt -0.10

GCOW Pacer Global Cash Cows Dividend ETF

Δ -0.48recent -0.07prior +0.41beyond mkt -0.16

CRAI CRA International, Inc. Common Stock

Δ -0.47recent -0.40prior +0.07beyond mkt +0.04

MOTI VanEck Morningstar International Moat ETF

Δ -0.46recent +0.11prior +0.57beyond mkt +0.04

BZ KANZHUN LIMITED American Depository Shares

Δ -0.44recent -0.07prior +0.36beyond mkt +0.11

Hidden links

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

Symbol	beyond mkt	raw ρ	shared
FCA First Trust China AlphaDEX Fund	+0.44	+0.65	7
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	+0.40	+0.65	5
FNDE Schwab Fundamental Emerging Markets Equity ETF	+0.57	+0.88	17
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF	+0.43	+0.83	13
GVAL Cambria Global Value ETF	+0.36	+0.81	11
ECOW Pacer Funds Pacer Emerging Markets Cash Cows 100 ETF	+0.42	+0.78	14