QVAL EA Series Trust Alpha Architect U.S. Quantitative Value ETF

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

QVAL vs CALF

Both indexed to 100 at 2026-05-11.

QVAL CALF · range 98–125 · 2026-05-11 → 2026-11-06

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

CALF Pacer US Small Cap Cash Cows ETF

ρ +0.84beyond mkt +0.38holdout +0.77stable 100%robust

VFLO Victory Portfolios II VictoryShares Free Cash Flow ETF

ρ +0.80beyond mkt +0.38holdout +0.71stable 100%robust

GAP The Gap, Inc.

ρ +0.59beyond mkt +0.32holdout +0.58stable 100%robust

URBN Urban Outfitters, Inc. Common Stock

ρ +0.52beyond mkt +0.27holdout +0.60stable 100%robust

DSTL Distillate U.S. Fundamental Stability & Value ETF

ρ +0.82beyond mkt +0.21holdout +0.75stable 100%robust

ONEY State Street SPDR Russell 1000 Yield Focus ETF

ρ +0.86beyond mkt +0.20holdout +0.82stable 100%robust

VIXM ProShares VIX Mid-Term Futures ETF

ρ -0.44beyond mkt +0.04holdout -0.30stable 88%robust

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

ρ -0.51beyond mkt +0.03holdout -0.34stable 88%robust

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

ρ -0.33beyond mkt -0.00holdout -0.19stable 75%robust

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

SDRL Seadrill Limited

horizon 10dρ +0.45holdout +0.21stable 62%moderate

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

PRLB PROTO LABS, INC.

Δ -0.83recent -0.29prior +0.53beyond mkt -0.14

GHM Graham Corporation

Δ -0.82recent -0.43prior +0.39beyond mkt -0.17

FORM FormFactor, Inc. FormFactor, Inc. Common Stock

Δ -0.81recent -0.46prior +0.36beyond mkt -0.04

MTRN Materion Corporation

Δ -0.80recent -0.29prior +0.51beyond mkt -0.15

AVT Avnet, Inc. Common Stock

Δ -0.80recent -0.26prior +0.54beyond mkt -0.03

ACLS Axcelis Technologies, Inc. Common Stock

Δ -0.80recent -0.38prior +0.42beyond mkt -0.08

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

Symbol	beyond mkt	raw ρ	shared	isolation
VFLO Victory Portfolios II VictoryShares Free Cash Flow ETF	+0.38	+0.80	13
CALF Pacer US Small Cap Cash Cows ETF	+0.38	+0.84	15