Which stocks are most correlated with ALAI?

Based on one year of daily returns, the stocks most correlated with Alger AI Enablers & Adopters ETF (ALAI) are CNEQ (0.95), FFOG (0.94) and YNOT (0.93). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with ALAI?

Over the past year, the stocks most inversely correlated with Alger AI Enablers & Adopters ETF (ALAI) are SQQQ (-0.90), QID (-0.90) and TECS (-0.89). A negative correlation means the two stocks have tended to move in opposite directions.

Alger AI Enablers & Adopters ETF (ALAI) — Stock Correlations & Overview

Over the past year, ALAI has moved most closely with CNEQ, FFOG, YNOT. Explore the stocks most correlated and inversely correlated with ALAI below, along with its price, financials, and company profile.

Stocks correlated with ALAI

Correlation of daily returns. Higher positive values move with ALAI; negative values move opposite it. Informational only, not investment advice.

Most correlated with ALAI

Symbol	Company	Correlation
CNEQ	Alger Concentrated Equity ETF	0.95
FFOG	Franklin Focused Dynamic Growth ETF	0.94
YNOT	Horizon Digital Frontier ETF	0.93
FFLG	Fidelity Fundamental Large Cap Growth ETF	0.93
HFGO	Hartford Large Cap Growth ETF	0.92

Most inversely correlated with ALAI

Symbol	Company	Correlation
SQQQ	ProShares UltraPro Short QQQ	-0.90
QID	ProShares UltraShort QQQ	-0.90
TECS	Direxion Daily Technology Bear 3x ETF	-0.89
PSQ	ProShares Short QQQ	-0.89
REW	Proshares UltraShort Technology	-0.89

Frequently asked questions about ALAI correlations

Which stocks are most correlated with ALAI?: Based on one year of daily returns, the stocks most correlated with Alger AI Enablers & Adopters ETF (ALAI) are CNEQ (0.95), FFOG (0.94) and YNOT (0.93). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with ALAI?: Over the past year, the stocks most inversely correlated with Alger AI Enablers & Adopters ETF (ALAI) are SQQQ (-0.90), QID (-0.90) and TECS (-0.89). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these ALAI correlations calculated?: We compute the correlation of daily returns between ALAI and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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