MAX Auto Industry 3x Leveraged ETN (CARU) — Stock Correlations & Overview
Over the past year, CARU has moved most closely with VCR, FDIS, RXI. Explore the stocks most correlated and inversely correlated with CARU below, along with its price, financials, and company profile.
Stocks correlated with CARU
Correlation of daily returns. Higher positive values move with CARU; negative values move opposite it. Informational only, not investment advice.
Most correlated with CARU
| Symbol | Company | Correlation |
|---|---|---|
| VCR | Vanguard Consumer Discretionary ETF | 0.81 |
| FDIS | Fidelity MSCI Consumer Discretionary Index ETF | 0.81 |
| RXI | iShares Global Consumer Discretionary ETF | 0.79 |
| WANT | Direxion Daily Consumer Discretionary Bull 3X ETF | 0.79 |
| XLY | State Street Consumer Discretionary Select Sector SPDR ETF | 0.79 |
Frequently asked questions about CARU correlations
- Which stocks are most correlated with CARU?
- Based on one year of daily returns, the stocks most correlated with MAX Auto Industry 3x Leveraged ETN (CARU) are VCR (0.81), FDIS (0.81) and RXI (0.79). 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 CARU?
- Over the past year, the stocks most inversely correlated with MAX Auto Industry 3x Leveraged ETN (CARU) are CARD (-0.99), SCC (-0.79) and SDD (-0.72). 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 CARU correlations calculated?
- We compute the correlation of daily returns between CARU 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.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.