DMC Global Inc. Common Stock (BOOM) — Stock Correlations & Overview
Over the past year, BOOM has moved most closely with TNC, SHLS, CECO. Explore the stocks most correlated and inversely correlated with BOOM below, along with its price, financials, and company profile.
Stocks correlated with BOOM
Correlation of daily returns. Higher positive values move with BOOM; negative values move opposite it. Informational only, not investment advice.
Most correlated with BOOM
| Symbol | Company | Correlation |
|---|---|---|
| TNC | TENNANT COMPANYREFRIGERATION & SERVICE INDUSTRY MACHINERY | 0.42 |
| SHLS | Shoals Technologies Group, Inc. Class A Common StockSEMICONDUCTORS & RELATED DEVICES | 0.38 |
| CECO | Ceco Environmental CorpINDUSTRIAL & COMMERCIAL FANS & BLOWERS & AIR PURIFYING EQUIP | 0.36 |
| ATOM | Atomera Incorporated Common StockSEMICONDUCTORS & RELATED DEVICES | 0.36 |
| TARA | Protara Therapeutics, Inc. Common StockBIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) | 0.33 |
Most inversely correlated with BOOM
| Symbol | Company | Correlation |
|---|---|---|
| CLVT | Clarivate PlcSERVICES-COMPUTER PROCESSING & DATA PREPARATION | -0.33 |
| PVLA | Palvella Therapeutics, Inc. Common StockPHARMACEUTICAL PREPARATIONS | -0.24 |
| AIBD | Direxion Daily AI and Big Data Bear 2X ETF | -0.23 |
| BERZ | MicroSectors FANG & Innovation -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.23 |
| TECS | Direxion Daily Technology Bear 3x ETF | -0.23 |
Frequently asked questions about BOOM correlations
- Which stocks are most correlated with BOOM?
- Based on one year of daily returns, the stocks most correlated with DMC Global Inc. Common Stock (BOOM) are TNC (0.42), SHLS (0.38) and CECO (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 BOOM?
- Over the past year, the stocks most inversely correlated with DMC Global Inc. Common Stock (BOOM) are CLVT (-0.33), PVLA (-0.24) and AIBD (-0.23). 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 BOOM correlations calculated?
- We compute the correlation of daily returns between BOOM 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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