Carlsmed, Inc. Common Stock (CARL) — Stock Correlations & Overview
Over the past year, CARL has moved most closely with EKG, XHE, MDEV. Explore the stocks most correlated and inversely correlated with CARL below, along with its price, financials, and company profile.
Stocks correlated with CARL
Correlation of daily returns. Higher positive values move with CARL; negative values move opposite it. Informational only, not investment advice.
Most correlated with CARL
| Symbol | Company | Correlation |
|---|---|---|
| EKG | First Trust Nasdaq Lux Digital Health Solutions ETF | 0.43 |
| XHE | State Street SPDR S&P Health Care Equipment ETF | 0.42 |
| MDEV | First Trust Indxx Medical Devices ETF | 0.42 |
| HTEC | ROBO Global Healthcare Technology and Innovation ETF | 0.41 |
| HEAL | Global X Funds Global X HealthTech ETF | 0.40 |
Most inversely correlated with CARL
| Symbol | Company | Correlation |
|---|---|---|
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.38 |
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.37 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.36 |
| RXD | ProShares UltraShort Health Care | -0.29 |
| SBB | ProShares Short SmallCap600 | -0.28 |
Frequently asked questions about CARL correlations
- Which stocks are most correlated with CARL?
- Based on one year of daily returns, the stocks most correlated with Carlsmed, Inc. Common Stock (CARL) are EKG (0.43), XHE (0.42) and MDEV (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 CARL?
- Over the past year, the stocks most inversely correlated with Carlsmed, Inc. Common Stock (CARL) are HDGE (-0.38), FLYD (-0.37) and DWSH (-0.36). 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 CARL correlations calculated?
- We compute the correlation of daily returns between CARL 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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