Fidelity Cloud Computing ETF (FCLD) — Stock Correlations & Overview
Over the past year, FCLD has moved most closely with SKYY, SKYU, CLOD. Explore the stocks most correlated and inversely correlated with FCLD below, along with its price, financials, and company profile.
Stocks correlated with FCLD
Correlation of daily returns. Higher positive values move with FCLD; negative values move opposite it. Informational only, not investment advice.
Most correlated with FCLD
| Symbol | Company | Correlation |
|---|---|---|
| SKYY | First Trust Cloud Computing ETF | 0.90 |
| SKYU | ProShares Ultra Nasdaq Cloud Computing ETF | 0.90 |
| CLOD | Themes Cloud Computing ETF | 0.86 |
| XDAT | Franklin Exponential Data ETF | 0.85 |
| IGV | iShares Expanded Tech-Software Sector ETF | 0.83 |
Most inversely correlated with FCLD
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.76 |
| AIBD | Direxion Daily AI and Big Data Bear 2X ETF | -0.69 |
| TECS | Direxion Daily Technology Bear 3x ETF | -0.68 |
| REW | Proshares UltraShort Technology | -0.68 |
| FNGD | MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038COMMERCIAL BANKS, NEC | -0.67 |
Frequently asked questions about FCLD correlations
- Which stocks are most correlated with FCLD?
- Based on one year of daily returns, the stocks most correlated with Fidelity Cloud Computing ETF (FCLD) are SKYY (0.90), SKYU (0.90) and CLOD (0.86). 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 FCLD?
- Over the past year, the stocks most inversely correlated with Fidelity Cloud Computing ETF (FCLD) are WEBS (-0.76), AIBD (-0.69) and TECS (-0.68). 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 FCLD correlations calculated?
- We compute the correlation of daily returns between FCLD 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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