Beam Global Common Stock (BEEM) — Stock Correlations & Overview
Over the past year, BEEM has moved most closely with PBW, SATO, FDIG. Explore the stocks most correlated and inversely correlated with BEEM below, along with its price, financials, and company profile.
Stocks correlated with BEEM
Correlation of daily returns. Higher positive values move with BEEM; negative values move opposite it. Informational only, not investment advice.
Most correlated with BEEM
| Symbol | Company | Correlation |
|---|---|---|
| PBW | Invesco WilderHill Clean Energy ETF | 0.54 |
| SATO | Invesco Alerian Galaxy Crypto Economy ETFINVESTMENT ADVICE | 0.53 |
| FDIG | Fidelity Crypto Industry and Digital Payments ETF | 0.52 |
| UPGR | Xtrackers US Green Infrastructure Select Equity ETF | 0.51 |
| BLOK | Amplify Blockchain Technology ETF | 0.51 |
Most inversely correlated with BEEM
| Symbol | Company | Correlation |
|---|---|---|
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.47 |
| TWM | ProShares UltraShort Russell2000 | -0.46 |
| SRTY | ProShares UltraPro Short Russell2000 | -0.46 |
| TZA | Direxion Daily Small Cap Bear 3x ETF | -0.45 |
| RWM | ProShares Short Russell2000 | -0.45 |
Frequently asked questions about BEEM correlations
- Which stocks are most correlated with BEEM?
- Based on one year of daily returns, the stocks most correlated with Beam Global Common Stock (BEEM) are PBW (0.54), SATO (0.53) and FDIG (0.52). 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 BEEM?
- Over the past year, the stocks most inversely correlated with Beam Global Common Stock (BEEM) are SARK (-0.47), TWM (-0.46) and SRTY (-0.46). 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 BEEM correlations calculated?
- We compute the correlation of daily returns between BEEM 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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