Belite Bio, Inc American Depositary Shares (BLTE) — Stock Correlations & Overview
Over the past year, BLTE has moved most closely with IBRN, PTH, XBI. Explore the stocks most correlated and inversely correlated with BLTE below, along with its price, financials, and company profile.
Stocks correlated with BLTE
Correlation of daily returns. Higher positive values move with BLTE; negative values move opposite it. Informational only, not investment advice.
Most correlated with BLTE
| Symbol | Company | Correlation |
|---|---|---|
| IBRN | iShares Neuroscience and Healthcare ETF | 0.38 |
| PTH | Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Healthcare Momentum ETF | 0.37 |
| XBI | State Street SPDR S&P Biotech ETF | 0.36 |
| LABU | Direxion Daily S&P Biotech Bull 3X ETF | 0.35 |
| IBB | iShares Biotechnology ETF | 0.35 |
Most inversely correlated with BLTE
| Symbol | Company | Correlation |
|---|---|---|
| LABD | Direxion Daily S&P Biotech Bear 3X ETF | -0.35 |
| BIS | ProShares UltraShort NASDAQ Biotechnology | -0.34 |
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.30 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.29 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.29 |
Frequently asked questions about BLTE correlations
- Which stocks are most correlated with BLTE?
- Based on one year of daily returns, the stocks most correlated with Belite Bio, Inc American Depositary Shares (BLTE) are IBRN (0.38), PTH (0.37) and XBI (0.36). 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 BLTE?
- Over the past year, the stocks most inversely correlated with Belite Bio, Inc American Depositary Shares (BLTE) are LABD (-0.35), BIS (-0.34) and EFU (-0.30). 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 BLTE correlations calculated?
- We compute the correlation of daily returns between BLTE 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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