Which stocks are most correlated with FHEQ?

Based on one year of daily returns, the stocks most correlated with Fidelity Hedged Equity ETF (FHEQ) are FELC (0.96), PBUS (0.95) and XUSP (0.95). 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 FHEQ?

Over the past year, the stocks most inversely correlated with Fidelity Hedged Equity ETF (FHEQ) are SPXS (-0.95), SPXU (-0.95) and SDS (-0.95). A negative correlation means the two stocks have tended to move in opposite directions.

Fidelity Hedged Equity ETF (FHEQ) — Stock Correlations & Overview

Over the past year, FHEQ has moved most closely with FELC, PBUS, XUSP. Explore the stocks most correlated and inversely correlated with FHEQ below, along with its price, financials, and company profile.

Stocks correlated with FHEQ

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

Most correlated with FHEQ

Symbol	Company	Correlation
FELC	Fidelity Enhanced Large Cap Core ETF	0.96
PBUS	Invesco MSCI USA ETFINVESTMENT ADVICE	0.95
XUSP	Innovator Uncapped Accelerated U.S. Equity ETF	0.95
GSUS	Goldman Sachs MarketBeta U.S. Equity ETF	0.95
UXJA	FT Vest U.S. Equity Uncapped Accelerator ETF - January	0.95

Most inversely correlated with FHEQ

Symbol	Company	Correlation
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.95
SPXU	ProShares UltraPro Short S&P 500	-0.95
SDS	ProShares UltraShort S&P500	-0.95
SH	ProShares Short S&P500	-0.94
SPDN	Direxion Daily S&P 500 Bear 1X ETF	-0.94

Frequently asked questions about FHEQ correlations

Which stocks are most correlated with FHEQ?: Based on one year of daily returns, the stocks most correlated with Fidelity Hedged Equity ETF (FHEQ) are FELC (0.96), PBUS (0.95) and XUSP (0.95). 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 FHEQ?: Over the past year, the stocks most inversely correlated with Fidelity Hedged Equity ETF (FHEQ) are SPXS (-0.95), SPXU (-0.95) and SDS (-0.95). 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 FHEQ correlations calculated?: We compute the correlation of daily returns between FHEQ 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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