Direxion Shares ETF Trust Direxion Daily AMZN Bear 1X ETF (AMZD) — Stock Correlations & Overview
Over the past year, AMZD has moved most closely with SCC, QQQD, WEBS. Explore the stocks most correlated and inversely correlated with AMZD below, along with its price, financials, and company profile.
Stocks correlated with AMZD
Correlation of daily returns. Higher positive values move with AMZD; negative values move opposite it. Informational only, not investment advice.
Most correlated with AMZD
| Symbol | Company | Correlation |
|---|---|---|
| SCC | ProShares UltraShort Consumer Discretionary | 0.71 |
| QQQD | Direxion Daily Magnificent 7 Bear 1X ETF | 0.69 |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | 0.60 |
| QQDN | ProShares Trust ProShares UltraShort QQQ Mega | 0.60 |
| FNGD | MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038COMMERCIAL BANKS, NEC | 0.54 |
Most inversely correlated with AMZD
| Symbol | Company | Correlation |
|---|---|---|
| AMZN | Amazon.Com IncRETAIL-CATALOG & MAIL-ORDER HOUSES | -0.99 |
| AMZZ | GraniteShares 2x Long AMZN Daily ETF | -0.99 |
| AMZU | Direxion Shares ETF Trust Direxion Daily AMZN Bull 2X ETF | -0.99 |
| AMZW | Roundhill AMZN WeeklyPay ETF | -0.98 |
| AMZP | Kurv Yield Premium Strategy Amazon (AMZN) ETF | -0.96 |
Frequently asked questions about AMZD correlations
- Which stocks are most correlated with AMZD?
- Based on one year of daily returns, the stocks most correlated with Direxion Shares ETF Trust Direxion Daily AMZN Bear 1X ETF (AMZD) are SCC (0.71), QQQD (0.69) and WEBS (0.60). 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 AMZD?
- Over the past year, the stocks most inversely correlated with Direxion Shares ETF Trust Direxion Daily AMZN Bear 1X ETF (AMZD) are AMZN (-0.99), AMZZ (-0.99) and AMZU (-0.99). 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 AMZD correlations calculated?
- We compute the correlation of daily returns between AMZD 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.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.