MicroSectors Travel -3x Inverse Leveraged ETN (FLYD) — Stock Correlations & Overview
Over the past year, FLYD has moved most closely with JETD, SCC, SDOW. Explore the stocks most correlated and inversely correlated with FLYD below, along with its price, financials, and company profile.
Stocks correlated with FLYD
Correlation of daily returns. Higher positive values move with FLYD; negative values move opposite it. Informational only, not investment advice.
Most correlated with FLYD
| Symbol | Company | Correlation |
|---|---|---|
| JETD | MAX Airlines -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | 0.79 |
| SCC | ProShares UltraShort Consumer Discretionary | 0.71 |
| SDOW | ProShares UltraPro Short Dow 30 | 0.71 |
| DXD | ProShares UltraShort Dow 30 | 0.71 |
| DOG | ProShares Short Dow30 | 0.70 |
Most inversely correlated with FLYD
| Symbol | Company | Correlation |
|---|---|---|
| FLYU | MicroSectors Travel 3x Leveraged ETNCOMMERCIAL BANKS, NEC | -0.99 |
| RSPD | Invesco S&P 500 Equal Weight Consumer Discretionary ETF | -0.87 |
| JETS | U.S. Global Jets ETF | -0.86 |
| PEJ | Invesco Leisure and Entertainment ETF | -0.86 |
| FXD | First Trust Consumer Discretionary AlphaDEX Fund | -0.86 |
Frequently asked questions about FLYD correlations
- Which stocks are most correlated with FLYD?
- Based on one year of daily returns, the stocks most correlated with MicroSectors Travel -3x Inverse Leveraged ETN (FLYD) are JETD (0.79), SCC (0.71) and SDOW (0.71). 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 FLYD?
- Over the past year, the stocks most inversely correlated with MicroSectors Travel -3x Inverse Leveraged ETN (FLYD) are FLYU (-0.99), RSPD (-0.87) and JETS (-0.86). 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 FLYD correlations calculated?
- We compute the correlation of daily returns between FLYD 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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