SHLD Global X Defense Tech ETF

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

SHLD vs NATO

Both indexed to 100 at 2026-05-11.

SHLD NATO · range 90–111 · 2026-05-11 → 2026-11-06

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

NATO Themes ETF Trust Themes Transatlantic Defense ETF

ρ +0.79beyond mkt +0.70holdout +0.77stable 100%robust

EUAD Select STOXX Europe Aerospace & Defense ETF

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

MISL First Trust Indxx Aerospace & Defense ETF

ρ +0.74beyond mkt +0.62holdout +0.79stable 100%robust

ITA iShares U.S. Aerospace & Defense ETF

ρ +0.71beyond mkt +0.58holdout +0.71stable 100%robust

GD General Dynamics Corporation

ρ +0.61beyond mkt +0.58holdout +0.70stable 100%robust

NOC Northrop Grumman Corp.

ρ +0.54beyond mkt +0.56holdout +0.66stable 100%robust

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

NIKL Sprott Funds Trust Sprott Nickel Miners ETF

horizon 10dρ +0.40holdout +0.09stable 75%moderate

EWS iShares MSCI Singapore ETF

horizon 5dρ +0.32holdout +0.21stable 75%robust

MEDP Medpace Holdings, Inc. Common Stock

horizon 5dρ +0.31holdout +0.39stable 75%robust

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

CTVA Corteva, Inc. Common Stock

Δ -0.57recent -0.39prior +0.18beyond mkt -0.08

SII Sprott Inc.

Δ -0.56recent -0.18prior +0.38beyond mkt -0.08

FMC FMC Corporation

Δ -0.52recent -0.39prior +0.13beyond mkt -0.07

NIKL Sprott Funds Trust Sprott Nickel Miners ETF

Δ -0.49recent -0.17prior +0.33beyond mkt -0.07

BWMN Bowman Consulting Group Ltd. Common Stock

Δ -0.48recent -0.12prior +0.36beyond mkt +0.09

VALE VALE S.A.

Δ -0.47recent -0.31prior +0.16beyond mkt -0.16

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

Symbol	beyond mkt	raw ρ	shared
EUAD Select STOXX Europe Aerospace & Defense ETF	+0.67	+0.71	10
FITE State Street SPDR S&P Kensho Future Security ETF	+0.49	+0.63	13
ITA iShares U.S. Aerospace & Defense ETF	+0.58	+0.71	20
ROKT State Street SPDR S&P Kensho Final Frontiers ETF	+0.50	+0.65	19
RTX RTX Corporation	+0.47	+0.57	19
ESLT Elbit Systems Ltd. Ordinary Shares	+0.51	+0.57	20