FIW First Trust Water ETF

Last close: 115.03
504-day return: +10.21%
Median $/day: $4.2M
Relationships shown: 13
Leader rank: #950

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

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

FIW vs CGW

Both indexed to 100 at 2026-05-11.

FIW CGW · range 95–114 · 2026-05-11 → 2026-11-06

Follows FIW

These tend to repeat FIW's moves later.

RGCO RGC Resources Inc. Common Stock

lag 1dρ -0.23holdout -0.15stable 100%$/day $228krobust

Moves with FIW

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

CGW Invesco S&P Global Water Index ETF

ρ +0.82beyond mkt +0.54holdout +0.84stable 100%robust

PIO Invesco Exchange-Traded Fund Trust II Invesco Global Water ETF

ρ +0.82beyond mkt +0.46holdout +0.83stable 100%robust

XYL Xylem Inc

ρ +0.76beyond mkt +0.42holdout +0.75stable 100%robust

ZWS Zurn Elkay Water Solutions Corporation

ρ +0.75beyond mkt +0.39holdout +0.76stable 100%robust

BMI Badger Meter, Inc.

ρ +0.60beyond mkt +0.36holdout +0.59stable 100%robust

MWA Mueller Water Products, Inc.

ρ +0.71beyond mkt +0.35holdout +0.70stable 100%robust

Moves against FIW

TAIL Cambria Tail Risk ETF

ρ -0.30beyond mkt -0.04holdout -0.07stable 62%moderate

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

ρ -0.38beyond mkt +0.03holdout -0.35stable 100%robust

VIXM ProShares VIX Mid-Term Futures ETF

ρ -0.46beyond mkt +0.02holdout -0.41stable 100%robust

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

ρ -0.54beyond mkt -0.01holdout -0.46stable 100%robust

Weekly, not daily

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

PCF High Income Securities Fund

horizon 10dρ +0.39holdout +0.31stable 75%robust

RYAN Ryan Specialty Holdings, Inc.

horizon 10dρ +0.36holdout +0.61stable 88%robust

Changed this quarter

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

BTA Beacon Tactical Alternatives Risk ETF

Δ -0.73recent -0.51prior +0.22beyond mkt -0.05

BOF BranchOut Food Inc. Common Stock

Δ -0.67recent -0.42prior +0.25beyond mkt +0.02

FORM FormFactor, Inc. FormFactor, Inc. Common Stock

Δ -0.60recent -0.23prior +0.37beyond mkt -0.04

ACLS Axcelis Technologies, Inc. Common Stock

Δ -0.57recent -0.14prior +0.43beyond mkt -0.05

KEYS Keysight Technologies, Inc.

Δ -0.57recent -0.08prior +0.49beyond mkt -0.05

MTRN Materion Corporation

Δ -0.57recent -0.00prior +0.57beyond mkt +0.01

Hidden links

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

Symbol	beyond mkt	raw ρ	shared
CGW Invesco S&P Global Water Index ETF	+0.54	+0.82	8
PIO Invesco Exchange-Traded Fund Trust II Invesco Global Water ETF	+0.46	+0.82	9
XYL Xylem Inc	+0.42	+0.76	10
BMI Badger Meter, Inc.	+0.36	+0.60	7
ZWS Zurn Elkay Water Solutions Corporation	+0.39	+0.75	12
MWA Mueller Water Products, Inc.	+0.35	+0.71	13