Agora, Inc. American Depositary Shares (API) — Stock Correlations & Overview
Over the past year, API has moved most closely with KTEC, KWEB, FDNI. Explore the stocks most correlated and inversely correlated with API below, along with its price, financials, and company profile.
Stocks correlated with API
Correlation of daily returns. Higher positive values move with API; negative values move opposite it. Informational only, not investment advice.
Most correlated with API
| Symbol | Company | Correlation |
|---|---|---|
| KTEC | KraneShares Hang Seng TECH Index ETF | 0.42 |
| KWEB | KraneShares CSI China Internet ETF | 0.42 |
| FDNI | First Trust Dow Jones International Internet ETF | 0.42 |
| CWEB | Direxion Daily CSI China Internet Index Bull 2X ETF | 0.41 |
| OND | ProShares On-Demand ETF | 0.40 |
Most inversely correlated with API
| Symbol | Company | Correlation |
|---|---|---|
| FXP | ProShares UltraShort FTSE China 50 of ProShares Trust | -0.36 |
| YANG | Direxion Daily FTSE China Bear 3X ETF | -0.35 |
| YXI | ProShares Short FTSE China 50 of PROSHARES TRUST | -0.31 |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.31 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.31 |
Frequently asked questions about API correlations
- Which stocks are most correlated with API?
- Based on one year of daily returns, the stocks most correlated with Agora, Inc. American Depositary Shares (API) are KTEC (0.42), KWEB (0.42) and FDNI (0.42). 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 API?
- Over the past year, the stocks most inversely correlated with Agora, Inc. American Depositary Shares (API) are FXP (-0.36), YANG (-0.35) and YXI (-0.31). 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 API correlations calculated?
- We compute the correlation of daily returns between API 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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