Gadsden Dynamic Multi-Asset ETF (GDMA) — Stock Correlations & Overview
Over the past year, GDMA has moved most closely with DUKX, ASIA, QAI. Explore the stocks most correlated and inversely correlated with GDMA below, along with its price, financials, and company profile.
Stocks correlated with GDMA
Correlation of daily returns. Higher positive values move with GDMA; negative values move opposite it. Informational only, not investment advice.
Most correlated with GDMA
| Symbol | Company | Correlation |
|---|---|---|
| DUKX | Ocean Park International ETF | 0.76 |
| ASIA | Matthews Pacific Tiger Active ETF | 0.75 |
| QAI | NYLIM Hedge Multi-Strategy Tracker ETF | 0.74 |
| CARZ | First Trust Exchange-Traded Fund II First Trust S-Network Future Vehicles & Technology ETF | 0.73 |
| EDC | Direxion Daily MSCI Emerging Markets Bull 3X ETF | 0.72 |
Most inversely correlated with GDMA
| Symbol | Company | Correlation |
|---|---|---|
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.70 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.70 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.70 |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -0.67 |
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.64 |
Frequently asked questions about GDMA correlations
- Which stocks are most correlated with GDMA?
- Based on one year of daily returns, the stocks most correlated with Gadsden Dynamic Multi-Asset ETF (GDMA) are DUKX (0.76), ASIA (0.75) and QAI (0.74). 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 GDMA?
- Over the past year, the stocks most inversely correlated with Gadsden Dynamic Multi-Asset ETF (GDMA) are EDZ (-0.70), EUM (-0.70) and EEV (-0.70). 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 GDMA correlations calculated?
- We compute the correlation of daily returns between GDMA 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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