Direxion Daily CSI China Internet Index Bull 2X ETF (CWEB) — Stock Correlations & Overview
Over the past year, CWEB has moved most closely with KWEB, PGJ, KTEC. Explore the stocks most correlated and inversely correlated with CWEB below, along with its price, financials, and company profile.
Stocks correlated with CWEB
Correlation of daily returns. Higher positive values move with CWEB; negative values move opposite it. Informational only, not investment advice.
Most correlated with CWEB
| Symbol | Company | Correlation |
|---|---|---|
| KWEB | KraneShares CSI China Internet ETF | 0.97 |
| PGJ | Invesco Golden Dragon China ETF | 0.94 |
| KTEC | KraneShares Hang Seng TECH Index ETF | 0.93 |
| MCHI | iShares MSCI China ETF | 0.93 |
| MAGC | Roundhill China Magnificent Seven ETF | 0.93 |
Most inversely correlated with CWEB
| Symbol | Company | Correlation |
|---|---|---|
| YANG | Direxion Daily FTSE China Bear 3X ETF | -0.91 |
| FXP | ProShares UltraShort FTSE China 50 of ProShares Trust | -0.90 |
| YXI | ProShares Short FTSE China 50 of PROSHARES TRUST | -0.87 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.56 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.55 |
Frequently asked questions about CWEB correlations
- Which stocks are most correlated with CWEB?
- Based on one year of daily returns, the stocks most correlated with Direxion Daily CSI China Internet Index Bull 2X ETF (CWEB) are KWEB (0.97), PGJ (0.94) and KTEC (0.93). 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 CWEB?
- Over the past year, the stocks most inversely correlated with Direxion Daily CSI China Internet Index Bull 2X ETF (CWEB) are YANG (-0.91), FXP (-0.90) and YXI (-0.87). 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 CWEB correlations calculated?
- We compute the correlation of daily returns between CWEB 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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