Which stocks are most correlated with FAZ?

Based on one year of daily returns, the stocks most correlated with Direxion Daily Financial Bear 3x ETF (FAZ) are SKF (0.99), SEF (0.99) and BNKD (0.85). 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 FAZ?

Over the past year, the stocks most inversely correlated with Direxion Daily Financial Bear 3x ETF (FAZ) are XLF (-1.00), FNCL (-0.99) and VFH (-0.99). A negative correlation means the two stocks have tended to move in opposite directions.

Direxion Daily Financial Bear 3x ETF (FAZ) — Stock Correlations & Overview

Over the past year, FAZ has moved most closely with SKF, SEF, BNKD. Explore the stocks most correlated and inversely correlated with FAZ below, along with its price, financials, and company profile.

Stocks correlated with FAZ

Correlation of daily returns. Higher positive values move with FAZ; negative values move opposite it. Informational only, not investment advice.

Most correlated with FAZ

Symbol	Company	Correlation
SKF	ProShares UltraShort Financials	0.99
SEF	ProShares Short Financials	0.99
BNKD	MicroSectors U.S. Big Banks -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC	0.85
SDOW	ProShares UltraPro Short Dow 30	0.76
DXD	ProShares UltraShort Dow 30	0.76

Most inversely correlated with FAZ

Symbol	Company	Correlation
XLF	State Street Financial Select Sector SPDR ETFSTATE COMMERCIAL BANKS	-1.00
FNCL	Fidelity MSCI Financials Index ETF	-0.99
VFH	Vanguard Financials ETF	-0.99
TFNS	T. Rowe Price Financials ETF	-0.99
FAS	Direxion Daily Financial Bull 3x ETF	-0.98

Frequently asked questions about FAZ correlations

Which stocks are most correlated with FAZ?: Based on one year of daily returns, the stocks most correlated with Direxion Daily Financial Bear 3x ETF (FAZ) are SKF (0.99), SEF (0.99) and BNKD (0.85). 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 FAZ?: Over the past year, the stocks most inversely correlated with Direxion Daily Financial Bear 3x ETF (FAZ) are XLF (-1.00), FNCL (-0.99) and VFH (-0.99). 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 FAZ correlations calculated?: We compute the correlation of daily returns between FAZ 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.