Anika Therapeutics Inc (ANIK) — Stock Correlations & Overview
Over the past year, ANIK has moved most closely with XHE, KIDS, GEHC. Explore the stocks most correlated and inversely correlated with ANIK below, along with its price, financials, and company profile.
Stocks correlated with ANIK
Correlation of daily returns. Higher positive values move with ANIK; negative values move opposite it. Informational only, not investment advice.
Most correlated with ANIK
| Symbol | Company | Correlation |
|---|---|---|
| XHE | State Street SPDR S&P Health Care Equipment ETF | 0.41 |
| KIDS | OrthoPediatrics Corp. Common StockSURGICAL & MEDICAL INSTRUMENTS & APPARATUS | 0.39 |
| GEHC | GE HealthCare Technologies Inc. Common StockX-RAY APPARATUS & TUBES & RELATED IRRADIATION APPARATUS | 0.38 |
| QUAD | QUAD/GRAPHICS, INC.COMMERCIAL PRINTING | 0.37 |
| EKG | First Trust Nasdaq Lux Digital Health Solutions ETF | 0.35 |
Most inversely correlated with ANIK
| Symbol | Company | Correlation |
|---|---|---|
| RDAC | Rising Dragon Acquisition Corp. Ordinary SharesBLANK CHECKS | -0.38 |
| SDD | ProShares UltraShort SmallCap600 | -0.26 |
| SBB | ProShares Short SmallCap600 | -0.25 |
| BIYA | Baiya International Group Inc Class A Ordinary Shares | -0.24 |
| SRTY | ProShares UltraPro Short Russell2000 | -0.24 |
Frequently asked questions about ANIK correlations
- Which stocks are most correlated with ANIK?
- Based on one year of daily returns, the stocks most correlated with Anika Therapeutics Inc (ANIK) are XHE (0.41), KIDS (0.39) and GEHC (0.38). 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 ANIK?
- Over the past year, the stocks most inversely correlated with Anika Therapeutics Inc (ANIK) are RDAC (-0.38), SDD (-0.26) and SBB (-0.25). 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 ANIK correlations calculated?
- We compute the correlation of daily returns between ANIK 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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