Defiance Daily Target 2X Short AMD ETF (DAMD) — Stock Correlations & Overview
Over the past year, DAMD has moved most closely with AMDD, SOXS, TSXD. Explore the stocks most correlated and inversely correlated with DAMD below, along with its price, financials, and company profile.
Stocks correlated with DAMD
Correlation of daily returns. Higher positive values move with DAMD; negative values move opposite it. Informational only, not investment advice.
Most correlated with DAMD
| Symbol | Company | Correlation |
|---|---|---|
| AMDD | Direxion Shares ETF Trust Direxion Daily AMD Bear 1X ETF | 1.00 |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | 0.81 |
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | 0.78 |
| BERZ | MicroSectors FANG & Innovation -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | 0.78 |
| TECS | Direxion Daily Technology Bear 3x ETF | 0.77 |
Most inversely correlated with DAMD
| Symbol | Company | Correlation |
|---|---|---|
| AMD | Advanced Micro DevicesSEMICONDUCTORS & RELATED DEVICES | -0.99 |
| AMDW | Roundhill AMD WeeklyPay ETF | -0.98 |
| AMDL | GraniteShares 2x Long AMD Daily ETF | -0.98 |
| AMUU | Direxion Shares ETF Trust Direxion Daily AMD Bull 2X ETF | -0.98 |
| AMDG | Leverage Shares 2X Long AMD Daily ETF | -0.98 |
Frequently asked questions about DAMD correlations
- Which stocks are most correlated with DAMD?
- Based on one year of daily returns, the stocks most correlated with Defiance Daily Target 2X Short AMD ETF (DAMD) are AMDD (1.00), SOXS (0.81) and TSXD (0.78). 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 DAMD?
- Over the past year, the stocks most inversely correlated with Defiance Daily Target 2X Short AMD ETF (DAMD) are AMD (-0.99), AMDW (-0.98) and AMDL (-0.98). 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 DAMD correlations calculated?
- We compute the correlation of daily returns between DAMD 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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