Elastic N.V. (ESTC) — Stock Correlations & Overview
Over the past year, ESTC has moved most closely with DAT, WCLD, IGV. Explore the stocks most correlated and inversely correlated with ESTC below, along with its price, financials, and company profile.
Stocks correlated with ESTC
Correlation of daily returns. Higher positive values move with ESTC; negative values move opposite it. Informational only, not investment advice.
Most correlated with ESTC
| Symbol | Company | Correlation |
|---|---|---|
| DAT | ProShares Big Data Refiners ETF | 0.72 |
| WCLD | WisdomTree Cloud Computing Fund | 0.70 |
| IGV | iShares Expanded Tech-Software Sector ETF | 0.66 |
| CLOD | Themes Cloud Computing ETF | 0.65 |
| XSW | State Street SPDR S&P Software & Services ETF | 0.64 |
Most inversely correlated with ESTC
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.48 |
| PALD | Direxion Shares ETF Trust Direxion Daily PANW Bear 1X ETF | -0.44 |
| MSFD | Direxion Shares ETF Trust Direxion Daily MSFT Bear 1X ETF | -0.44 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.41 |
| PLTD | Direxion Shares ETF Trust Direxion Dailly PLTR Bear 1X ETF | -0.39 |
Frequently asked questions about ESTC correlations
- Which stocks are most correlated with ESTC?
- Based on one year of daily returns, the stocks most correlated with Elastic N.V. (ESTC) are DAT (0.72), WCLD (0.70) and IGV (0.66). 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 ESTC?
- Over the past year, the stocks most inversely correlated with Elastic N.V. (ESTC) are WEBS (-0.48), PALD (-0.44) and MSFD (-0.44). 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 ESTC correlations calculated?
- We compute the correlation of daily returns between ESTC 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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